Michigan Laws 211.1131 – Tax increment finance authority capture; prohibition; sharing of distribution
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Terms Used In Michigan Laws 211.1131
- Local tax collecting unit: means a township or city that assesses and collects property taxes pursuant to the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 211.1123
- Personal property: All property that is not real property.
Qualified heavy equipment rental personal property specific taxes are not subject to capture by any tax increment finance authority. This section does not prohibit a tax increment finance authority from sharing in the distribution of a local tax collecting unit‘s allocation described in section 9(5)(b)(i).