The legislature shall provide for the uniform general ad valorem taxation of real and
tangible personal property not exempt by law except for taxes levied for school operating
purposes. The legislature shall provide for the determination of true cash value of such
property; the proportion of true cash value at which such property shall be uniformly assessed,
which shall not, after January 1, 1966, exceed 50 percent; and for a system of equalization of
assessments. For taxes levied in 1995 and each year thereafter, the legislature shall provide
that the taxable value of each parcel of property adjusted for additions and losses, shall not
increase each year by more than the increase in the immediately preceding year in the general
price level, as defined in section 33 of this article, or 5 percent, whichever is less until
ownership of the parcel of property is transferred. When ownership of the parcel of property is
transferred as defined by law, the parcel shall be assessed at the applicable proportion of
current true cash value. The legislature may provide for alternative means of taxation of
designated real and tangible personal property in lieu of general ad valorem taxation. Every
tax other than the general ad valorem property tax shall be uniform upon the class or classes
on which it operates. A law that increases the statutory limits in effect as of February 1, 1994
on the maximum amount of ad valorem property taxes that may be levied for school district
operating purposes requires the approval of 3/4 of the members elected to and serving in the
Senate and in the House of Representatives.
Structure Michigan constitution