The bill amends the General Property Tax Act of 1893, specifically section 34c, to update the classifications of assessable property and clarify certain definitions. Notably, it introduces new language that mandates assessors to classify every item of assessable property by the first Monday in March each year and to transmit the tabulated assessed valuations to the county equalization department and the state tax commission. The bill also specifies that if a parcel of real property is classified as agricultural and is engaged in agricultural operations, any contiguous parcel owned by the same taxpayer must also be classified as agricultural real property, regardless of local tax collecting unit boundaries.

Additionally, the bill expands the classification of commercial real property to include parcels used to cultivate marihuana, defining "cultivate" and "marihuana" as per the Michigan Regulation and Taxation of Marihuana Act. It also makes several changes to the language throughout the section, replacing "shall" with "must" in various instances to emphasize the requirements, and clarifying the process for property classification disputes. The bill aims to ensure that property assessments are conducted uniformly and transparently, while also accommodating modern agricultural practices and the cultivation of marihuana.

Statutes affected:
House Introduced Bill: 211.34