Michigan HB5861 amends property tax exemptions for certain commercial properties.

Michigan HB5861 amends the property tax exemption for commercial properties used by private individuals, associations, or corporations in connection with a business conducted for profit. It specifies that if such properties are leased, loaned, or otherwise made available, the lessee or user is subject to taxation. Exceptions include properties used as a concession at a public airport, park, market, or similar property, and properties used by the lessee or user in conjunction with a county fair, community fair, 4-H fair, or state fair.

Michigan HB5861 amends property tax exemptions for certain commercial properties.

Michigan HB5861 amends the property tax exemption for commercial properties used by private individuals, associations, or corporations in connection with a business conducted for profit. It specifies that if such properties are leased, loaned, or otherwise made available, the lessee or user is subject to taxation. Exceptions include properties used as a concession at a public airport, park, market, or similar property, and properties used by the lessee or user in conjunction with a county fair, community fair, 4-H fair, or state fair.