Michigan Laws 211.984 – Determination of value and taxable value
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Terms Used In Michigan Laws 211.984
- Aquaculture: means the commercial husbandry of aquaculture species, including, but not limited to, culturing, producing, growing, propagating, and harvesting aquaculture products under any applicable permits or registration. See Michigan Laws 211.982
- Aquaculture production facility: means real property used for an indoor aquaculture production operation using aquaculture techniques or practices for growing aquaculture species. See Michigan Laws 211.982
- Eligible hydroponics production facility: means a hydroponics production facility that has a production area of not less than 1 acre. See Michigan Laws 211.982
- Hydroponics: means a system in which water-soluble nutrients are placed in intimate contact with a plant's root system, being grown in an inert supportive medium, which inert supportive medium itself does all of the following:
(i) Supplies physical support for the roots. See Michigan Laws 211.982Hydroponics production facility: means real property used for an indoor agriculture production operation using hydroponics techniques or practices for growing plants produced by agriculture that are useful to human beings, including, but not limited to, forages, field crops, sod, berries, herbs, fruits, vegetables, flowers, seeds, and nursery stock. See Michigan Laws 211.982 Taxable value: means the taxable value as determined under section 27a of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 211.982
The assessor of each local tax collecting unit in which there is an eligible hydroponics production facility or an eligible aquaculture production facility shall determine annually as of December 31 the value and taxable value of each eligible hydroponics production facility or eligible aquaculture production facility located in that local tax collecting unit.