MI HB4244

Allows owners of property enrolled as qualified forest property before January 1, 2013 to execute a new qualified forest taxable value affidavit with the Department of Agriculture and Rural Development between June 1, 2013 and November 30, 2013.

Owners who elect to execute a new qualified forest taxable value affidavit are not required to pay the $50.00 fee otherwise required under section 7jj(2).

Owners who elect not to execute a new qualified forest taxable value affidavit have their existing affidavit rescinded without being subject to the recapture tax under the Qualified Forest Property Recapture Tax Act.

Property of owners who decline to renew the affidavit will have its taxable value adjusted under subsection (3) of the property tax assessment statute.

Effective June 1, 2013.