Sec. 5a.
(1) The authority may exempt eligible tax reverted property from the eligible tax reverted property specific tax if the exemption will assist in the creation of jobs, investment, or other economic development benefits in the city, village, or township in which the eligible tax reverted property is located.
(2) Eligible tax reverted property exempt from the eligible tax reverted property specific tax under subsection (1) is subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.
History: Add. 2012, Act 222, Imd. Eff. June 28, 2012
Structure Michigan Compiled Laws
Chapter 211 - Taxation of Real and Personal Property
Act 260 of 2003 - Tax Reverted Clean Title Act (211.1021 - 211.1026)
Section 211.1021 - Short Title.
Section 211.1022 - Definitions.
Section 211.1023 - Eligible Tax Reverted Property; Tax Exemption.
Section 211.1024 - List of Property Sold; Determination of Value by Local Tax Assessor.
Section 211.1025 - Eligible Tax Reverted Property Specific Tax.
Section 211.1025a - Exemption.
Section 211.1026 - Repealed. 2012, Act 222, Imd. Eff. June 28, 2012.