Michigan Laws 324.35318 – Request for revaluation to determine fair market value
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Terms Used In Michigan Laws 324.35318
- Critical dune area: means a geographic area designated in the "atlas of critical dune areas" dated February 1989 that was prepared by the department of natural resources. See Michigan Laws 324.35301
- 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.
- Permit: means a permit for a use within a critical dune area under this part. See Michigan Laws 324.35301
- Use: means a developmental, silvicultural, or recreational activity done or caused to be done by a person that significantly alters the physical characteristic of a critical dune area or a contour change done or caused to be done by a person. See Michigan Laws 324.35301
If a permit for a proposed use within a critical dune area is denied, the landowner may request a revaluation of the affected property for assessment purposes to determine its fair market value under the restriction.