MI SB0114

Removes increases in occupancy rate from the definition of "additions" for property tax assessment purposes, eliminating a provision that previously allowed taxable value increases when commercial rental properties had higher occupancy rates.

Reflects the Michigan Supreme Court's decision in WPW Acquisition Company v. City of Troy (2002), which addressed the taxability of occupancy rate increases on commercial rental properties.

Applies retroactively to remove occupancy rate adjustments that were previously considered as additions under the general property tax assessment framework.

Effective immediately upon Governor's approval on June 12, 2014.