MI HB4668

Allocates all taxable and assessed values of platted real property owned by summer resort corporations to individual stockholder lessees, effective January 1, 2012.

Allows corporations to propose allocation percentages to local assessors based on the same methodology used in the immediately preceding tax year, with total allocation equaling 100%.

Sets burden of proof on stockholder lessees to establish by clear and convincing evidence that assessed values violate this section if they appeal an allocation.

Establishes that real property available for common and exclusive use by stockholder lessees has zero taxable and assessed values since that value is included in individual lessee assessments.

Caps total taxable value allocated to stockholder lessees for 2012 tax year at December 30, 2011 values multiplied by 1.027 inflation rate.