![]() Thus, the first step in determining the amount of a property’s ad valorem taxation is determining the value that will provide the basis for calculating the tax. Nature of Ad Valorem TaxationĪn ad valorem tax is a “tax levied on property or an article of commerce in proportion to its value as determined by assessment or appraisal.” Meijer Inc v City of Midland, 240 Mich App 1, 3 n1, 610 NW2d 242 (2000) (citation omitted). The GPTA identifies the property that is subject to taxation based on its true cash value, the means of determining true cash value, and other values that must be determined in Michigan’s property tax system. The legislature carried out this directive when it adopted the GPTA, MCL 211.1 et seq. ![]() ![]() Ad valorem tax means “a tax or duty upon the value of the article or thing subject to taxation.” Continental Cablevision of Michigan, Inc v Roseville, 430 Mich 727, 730 n1, 425 NW2d 53 (1988) (citation omitted). The Michigan Constitution directs the legislature to provide for “uniform general ad valorem taxation of real and tangible personal property not exempt by law.” Mich Const 1963 art 9, §3. Challenges to property assessment, including boards of review, appeals to the Michigan Tax Tribunal and its several divisions, and appearances before the Michigan State Tax Commission (STC), are discussed in chapter 3.įinally, this chapter will discuss the Lessee-User Tax Act (LUTA), MCL 211.181 et seq., which applies to certain types of property to which the GPTA does not apply, and will discuss several other acts that apply in lieu of the GPTA to provide tax incentives in special circumstances. This chapter will address the General Property Tax Act (GPTA), MCL 211.1 et seq., including the nature of the tax, the definitions of real and personal property, exemptions, classification, incorrectly reported and omitted property, assessment notices, and transfers of ownership. The property tax affects all “real and tangible personal property” that is not exempt, Mich Const 1963 art 9, §3, rendering it perhaps the most comprehensive and important tax in Michigan. ![]() Fisher, The Worst Tax?: A History of the Property Tax in America 4 (1996), it is a significant source of revenue for Michigan governments. Although the general property tax has been called the “worst tax,” see Glenn W. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |