207.5b Taxable value; determination.
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207.5b Taxable value; determination.
Sec. 5b.
(1)As used in this act, "taxable value" is that value determined in the same manner taxable value is determined under section 27a of the general property tax act, Act No. 206 of the Public Acts of 1893, being section 211.27a of the Michigan Compiled Laws.
(2)All property of a company subject to taxation under this act shall be considered 1 parcel in determining the taxable value of that company's property.
History: Add. 1995, Act 257, Imd. Eff. Jan. 5, 1996
Compiler's Notes: Section 2 of Act No. 257 of 1995 provides:“This amendatory act shall take effect December 30, 1995. This amendatory act is intended to clarify that the taxable basis of property subject to tax under this act, including intangible property, is also subject to the limitations on taxable value provided in section 3, article IX, of the Michigan Constitution of 1963. This act is not intended to exempt any particular type of property.”