CC 929, ( May 1982 ) 6 pages
Truth in Local Property Taxation and Assessment
Two new state statutes regulating local property taxes take effect in 1982 – “truth in Taxation” and “Truth in Assessment.” These two laws are in addition to two existing laws — “Truth in Equalization” which was adopted in 1976 and the millage rollback requirements provided for by the Tax Limitation Amendment to the Michigan Constitution adopted in 1978. Two of these laws are designed to limit the growth of property tax revenues and two are designed to provide local accountability for assessment levels. Although they are applied independently, they interact with each other.