August 31, 2005, Introduced by Senator CASSIS and referred to the Committee on Finance.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
by amending section 10e (MCL 211.10e), as added by 1986 PA 223.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
10e. (1) All Subject
to subsection (2), all assessing
officials ,
whose duty it is to assess real or personal property
on
which real or personal property taxes
are levied by any taxing
unit
of the this
state , shall
use only the official assessor's
manual published by the state tax commission or any manual approved
by
the state tax commission , consistent with the official
assessor's
manual, together with their latest supplements, as
prepared
or approved by the state tax commission as a guide in
preparing assessments.
(2) Notwithstanding the official assessor's manual published
by the state tax commission or any manual approved by the state tax
commission to the contrary, an assessing official shall depreciate
personal property until the taxable value of the personal property
assessed is not greater than 10% of that personal property's
initial taxable value, unless the official assessor's manual or the
manual approved by the state tax commission provides for a rate
less than 10%.
(3) Beginning with the tax assessing year 1978, all assessing
officials shall maintain records relevant to the assessments,
including appraisal record cards, personal property records,
historical assessment data, tax maps, and land value maps
consistent with standards set forth in the official assessor's
manual published by the state tax commission, except as otherwise
provided in subsection (2).