The House Tax Policy Committee voted unanymously to support HB 4602 (Rep. Hobbs, D- Southfield), which is abill to fix the longstanding inequity regarding commercial and industrial property valuation based on occupancy. Due to a Supreme Court decision in 2002, referred to as the "WPW case" local governments were only able to reduce taxable value based on reductions in occupancy, but they could not increase it back up once the occupancy increased. The bill would fix that by striking the use of occupancy as a factor in future valuations (it is not retroactive). We are hopeful that the bill will move out of the full House soon and we can work on trying to get this important legislation through the Senate. The League has been supporting this change for years.
Summer Minnick is the Director of State Affairs. She can be reached at (517) 908-0301 or sminnick@mml.org
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