Michigan Laws 211.1024 – List of property sold; determination of value by local tax assessor
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(1) Not later than December 31 of each year, an authority shall provide a list of all property sold by the authority in that calendar year to the assessor of each local tax collecting unit in which the property sold by the authority is located.
(2) The assessor of each local tax collecting unit in which there is eligible tax reverted property shall determine annually as of December 31 the value and taxable value of each parcel of eligible tax reverted property and shall furnish that information to the legislative body of the local tax collecting unit.
Terms Used In Michigan Laws 211.1024
- Authority: means a land bank fast track authority created under the land bank fast track act. See Michigan Laws 211.1022
- Eligible tax reverted property: means property that is exempt under section 7gg of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 211.1022
- Taxable value: means the taxable value determined under section 27a of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 211.1022