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Current as of January 01, 2025 | Updated by Findlaw Staff
Sec. 4. (1) The tax rate in mills allocated for charter county purposes pursuant to subsection (3) plus the tax rate in mills that is provided by law for state purposes and is in force and effect on the last day specified by this act for the filing of budgets and statements of local units with the board, except tax rates levied for the purpose of payment of interest and principal on state obligations incurred before December 8, 1932, shall be deducted from the maximum tax rates determined pursuant to section 3(1) 1 as the tax rates fixed by section 6 of article IX of the state constitution of 1963 without approval of the voters. The remainder of these maximum tax rates determined pursuant to section 3(1), after deducting the total tax rates levied for state purposes and a tax rate in mills allocated for charter county purposes pursuant to subsection (3), if any, shall be known and referred to as the net limitation tax rate.
(2) If a state tax is levied for any year other than 1994, the state treasurer shall notify by registered mail the county clerk of each county, on or before the day after the last day provided by this act for the filing of budgets and statements of local units with the board, stating the total amount of the state tax rates. On or before September 1 of each year, the state treasurer shall notify by registered mail the county clerk of each county of any change in the amount of the tax rate for state purposes in that county that is necessitated by state equalization of county assessed valuations. If a state property tax is levied for the payment of interest and principal on state obligations incurred before December 8, 1932, it shall be provided by law before August 1 of each year and shall be apportioned among each county in the manner now provided by law.
(3) Each county that adopts a charter shall be allocated for charter county purposes, from the maximum tax rate that is fixed pursuant to section 6 of article IX of the state constitution of 1963 without approval of the voters, a tax rate in mills equal to the number of mills allocated to the county either by a county tax allocation board or a separate tax limitation under this act in the year immediately preceding the year in which the county adopts a charter.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 211. Taxation of Real and Personal Property § 211.204 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-211-taxation-of-real-and-personal-property/mi-comp-laws-211-204/
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