Michigan Compiled Laws, Chapter 211. Taxation of Real and Personal Property § 211.985

(a) Multiply the number of mills that would be assessed in the local tax collecting unit if the property were subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155, and if the property was exempt as provided under section 7cc of the general property tax act, 1893 PA 206, MCL 211.7cc, by the eligible hydroponics production facility's or eligible aquaculture production facility's taxable value.

(b) Multiply the result of the calculation in subdivision (a) by .25.

(c) If a new millage is approved in the local tax collecting unit in which an eligible hydroponics production facility or an eligible aquaculture production facility is located after the effective date of this act, multiply the number of mills that were approved that would be assessed if the eligible hydroponics production facility or eligible aquaculture production facility were subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155, by the eligible hydroponics production facility's or eligible aquaculture production facility's taxable value. Repeat this calculation for each individual new millage approved in the local tax collecting unit after the effective date of this act. As used in this subdivision, “new millage” does not include the renewal of some or all of a millage in existence on the effective date of this act.

(d) Add the result of the calculation under subdivision (b) and the result of all calculations under subdivision (c).