Property tax; assessments; certain residential development
   property; exempt from school operating millage the same as
   homestead property.

   PROPERTY TAX:  Assessments





















        A bill to amend 1893 PA 206, entitled

   "The general property tax act,"

   (MCL 211.1 to 211.157) by adding section 7gg.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         SEC. 7GG.  (1) FOR TAXES LEVIED AFTER DECEMBER 31, 1998,

 2    RESIDENTIAL DEVELOPMENT PROPERTY IS EXEMPT FROM THE COLLECTION OF

 3    TAXES LEVIED BY A LOCAL SCHOOL DISTRICT FOR SCHOOL OPERATING PUR-

 4    POSES UNDER SECTION 1211 OF THE REVISED SCHOOL CODE, 1976 PA 451,

 5    MCL 380.1211, TO THE SAME EXTENT THAT A HOMESTEAD IS EXEMPT UNDER

 6    SECTION 7CC FROM TAXES LEVIED BY A LOCAL SCHOOL DISTRICT FOR

 7    SCHOOL OPERATING PURPOSES UNDER SECTION 1211 OF THE REVISED

 8    SCHOOL CODE, 1976 PA 451, MCL 380.1211.

 9         (2) AS USED IN THIS SECTION:

10         (A) "HOMESTEAD" MEANS THAT TERM AS DEFINED IN SECTION 7DD.




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 1         (B) "RESIDENTIAL DEVELOPMENT PROPERTY" MEANS REAL PROPERTY

 2    THAT MEETS ALL OF THE FOLLOWING CRITERIA:

 3         (i) IS CLASSIFIED AS RESIDENTIAL REAL PROPERTY UNDER
             SECTION

 4    34C.

 5         (ii) IS SUBJECT TO 1 OF THE FOLLOWING CONDITIONS:

 6         (A) A FINAL PLAT FOR THE REAL PROPERTY IS RECORDED PURSUANT

 7    TO THE LAND DIVISION ACT, 1967 PA 288, MCL 560.101 TO 560.293,

 8    AFTER THE EFFECTIVE DATE OF THE AMENDATORY ACT THAT ADDED THIS

 9    SECTION.

10         (B) A CONDOMINIUM SUBDIVISION PLAN IS COMPLETED AND A MASTER

11    DEED FOR ALL OR A PORTION OF THE REAL PROPERTY IS RECORDED PURSU-

12    ANT TO THE CONDOMINIUM ACT, 1978 PA 59, MCL 559.101 TO 559.275,

13    AFTER THE EFFECTIVE DATE OF THE AMENDATORY ACT THAT ADDED THIS

14    SECTION.

15         (iii) A RESIDENTIAL DWELLING OR CONDOMINIUM UNIT THAT IS

16    OCCUPIED OR THAT HAS EVER BEEN OCCUPIED IS NOT LOCATED ON THE

17    REAL PROPERTY.  RESIDENTIAL DEVELOPMENT PROPERTY MAY INCLUDE

18    PROPERTY ON WHICH IS LOCATED A PARTIALLY COMPLETED RESIDENTIAL

19    DWELLING OR A PARTIALLY COMPLETED CONDOMINIUM UNIT, OR A FULLY

20    COMPLETED RESIDENTIAL DWELLING THAT IS NOT OCCUPIED AND HAS NEVER

21    BEEN OCCUPIED OR A FULLY COMPLETED CONDOMINIUM UNIT THAT IS NOT

22    OCCUPIED AND HAS NEVER BEEN OCCUPIED.  RESIDENTIAL DEVELOPMENT

23    PROPERTY DOES NOT INCLUDE PROPERTY ON WHICH IS LOCATED A RESIDEN-

24    TIAL DWELLING OR CONDOMINIUM UNIT USED FOR COMMERCIAL PURPOSES OR

25    AS AN OFFICE, SHOWROOM, OR MODEL.







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