MI SB0862

Allows contiguous parcels owned by the same taxpayer to be classified as agricultural real property if they are vacant, wooded, or contain agricultural outbuildings comprising more than 50% of the taxable building value, even if located in different tax collecting units.

Property does not lose its agricultural classification due to implementation of a wildlife risk mitigation action plan approved by the Department of Agriculture and Rural Development.

Defines "agricultural operations" to include farming, crop harvesting, dairying, livestock raising, horse operations, turf and tree farming, and certain game bird hunting preserves, but excludes commercial storage and processing operations.

Requires assessors to classify all assessable property by the first Monday in March each year and transmit tabulations to county equalization departments and the state tax commission.

Effective date: March 28, 2013.