Mich. Comp. Laws § 211.1021
Short title.
This act shall be known and may be cited as the "tax reverted clean title act".
Michigan Compiled Laws — TAX REVERTED CLEAN TITLE ACT (Act 260 of 2003)
Michigan · statute · 260 of 2003, Mich. Comp. Laws · 6 active provisions
Provisions
Mich. Comp. Laws § 211.1022
Definitions.
As used in this act: (a) "Authority" means a land bank fast track authority created under the land bank fast track act. (b) "Commission" means the state tax commission created by 1927 PA 360, MCL 209.101 to 209.107. (c) "Eligible tax reverted property" means property that is exempt under section 7gg of the general prop…
Mich. Comp. Laws § 211.1023
Eligible tax reverted property; tax exemption.
Eligible tax reverted property is exempt from ad valorem property taxes collected under the general property tax act, 1893 PA 206, MCL 211.1 to 211.157, as provided under section 7gg of the general property tax act, 1893 PA 206, MCL 211.7gg.
Mich. Comp. Laws § 211.1024
List of property sold; determination of value by local tax assessor.
(1) Not later than December 31 of each year, an authority shall provide a list of all property sold by the authority in that calendar year to the assessor of each local tax collecting unit in which the property sold by the authority is located. (2) The assessor of each local tax collecting unit in which there is eligib…
Mich. Comp. Laws § 211.1025
Eligible tax reverted property specific tax.
(1) Except as otherwise provided in section 5a, there is levied upon every owner of eligible tax reverted property a specific tax to be known as the eligible tax reverted property specific tax. (2) The amount of the eligible tax reverted property specific tax in each year is the amount of tax that would have been colle…
Mich. Comp. Laws § 211.1025a
Exemption.
(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…