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.
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