S.B. 1027: COMMITTEE SUMMARY - MILLAGE ROUND UP

Senate Bill 1027 (as introduced 3-19-98)

Sponsor: Senator Dave Jaye

Committee: Finance

Date Completed: 3-24-98

CONTENT

The bill would amend the General Property Tax Act to eliminate a provision that allows local assessors, for the purpose of avoiding fractions in computations, to add up to one-half of 1% to the amount to be taxed. Currently, the excess generated by the rounding up of the amount taxed is placed in the contingent fund of the local taxing unit. The bill also would eliminate this provision.

MCL 211.39 - Legislative Analyst: G. Towne

FISCAL IMPACT

The bill would have no fiscal impact on State government. Property tax collections would be minimally reduced for the local units of government that currently round up the value of property taxes.

- Fiscal Analyst: R. Ross

S9798\S1027SA

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.