Property tax: tax tribunal; certain tribunal determinations in assessment disputes as to the valuation of property; require. Amends 1973 PA 186 (MCL 205.701 - 205.779) by adding sec. 38.
Impact
The introduction of HB 5866 is expected to enhance the transparency and rigor surrounding property valuation disputes within the state. By mandating that tribunals state their findings of fact and conclusions clearly, the law will require adjudicators to provide a comprehensive rationale for their decisions, fostering greater accountability in the assessment process. Proponents argue that this increased clarity will benefit property owners and the assessing agencies alike, as it lays out explicit guidelines for valuation methods and comparability criteria.
Summary
House Bill 5866 seeks to amend the Tax Tribunal Act by adding a new section that outlines the procedures for determining the true cash value of real and personal property during assessment disputes. The bill specifies that the tribunal must independently assess various factors, including market conditions, supply and demand, and potential property uses. These assessments will help ensure accurate evaluations that reflect both the physical and legal constraints on the properties in question. The bill's emphasis on thorough, independent investigations aims to promote fairness in property taxation and valuation processes.
Contention
Despite the bill's potential benefits, there are points of contention among stakeholders. Critics may argue that the complexities involved in the additional requirements could lead to delays in the assessment process. There are concerns that the burden on the tribunal to produce detailed findings could overwhelm tribunal resources and lengthen disputes, particularly in cases involving numerous properties. Furthermore, the interpretation of financial feasibility and market comparability could be contentious, as differing viewpoints on valuation methodologies might lead to disparities in outcomes.
Same As
Property tax: tax tribunal; certain tribunal determinations in assessment disputes as to the valuation of property; require. Amends sec. 3 of 1973 PA 186 (MCL 205.703).
Property tax: tax tribunal; certain tribunal determinations in assessment disputes as to the valuation of property; require. Amends sec. 37 of 1973 PA 186 (MCL 205.737).
Property tax: tax tribunal; certain tribunal determinations in assessment disputes as to the valuation of property; require. Amends sec. 3 of 1973 PA 186 (MCL 205.703).
Property tax: tax tribunal; tax tribunal jurisdiction over certain disputes related to the assessment of property for purposes of property taxes; amend. Amends secs. 31 & 35a of 1973 PA 186 (MCL 205.731 & 205.735a).
Property tax: appeals; process for appealing certain assessment-related disputes as to certain property; amend. Amends sec. 34 of 1893 PA 206 (MCL 211.34) & adds secs. 34f & 34g.
Property tax: assessments; sales of certain deed-restricted properties; prohibit the use of as comparable sales for assessment purposes in certain circumstances. Amends sec. 27 of 1893 PA 206 (MCL 211.27).
Property tax: tax tribunal; provisions of the tax tribunal act relating to the disclosure of certain evidence and the conduct of certain hearings; modify. Amends sec. 46 of 1973 PA 186 (MCL 205.746).
Property tax: tax tribunal; methods for tax tribunal to hold small claims hearings; expand to include telephonically or by videoconferencing. Amends sec. 62 of 1973 PA 186 (MCL 205.762).