Michigan Laws 324.30318 – Revaluation of property for assessment purposes
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 324.30318
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Wetland: means a land or water feature, commonly referred to as a bog, swamp, or marsh, inundated or saturated by water at a frequency and duration sufficient to support, and that under normal circumstances does support, hydric soils and a predominance of wetland vegetation or aquatic life. See Michigan Laws 324.30301
If a permit is denied for a proposed wetland activity, the landowner may request a revaluation of the affected property for assessment purposes to determine its fair market value under the use restriction.