Tax & Accounting Blog

Michigan Exempts Taxes on New Construction on Development Property

Indirect Tax, ONESOURCE, ONESOURCE Property Tax April 25, 2013

The State Tax Commission released a bulletin explaining Public Act 494 of 2012, which exempts new construction on development property from school operating taxes levied after November 1, 2012 for three years or until the construction is not located on development property.  For more information, such as exemption filing information, read the bulletin here: http://www.michigan.gov/documents/treasury/Bulletin2013-3_417002_7.pdf.