Introduced
by
To require the state Tax Tribunal (and indirectly, local property tax assessors) to assess “big box” stores based more on "highest and best use" factors rather than a lower value based on claims that the property would not be easily filled if vacant. This refers to whether these large structures are uniquely less valuable if vacant than other commercial properties that are supposedly easier to use for other purposes. The bill also limits store owners from "gaming" the system by placing deed restrictions on closed stores that lower their value (and tax assessment).
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
by
The substitute passed by voice vote
Passed in the House 97 to 11 (details)
Referred to the Committee on Finance
