MI SB1076

Adds new definition of "entire tribunal" to section 3 of the Tax Tribunal Act, meaning the hearing division excluding the residential property and small claims division.

Requires the tax tribunal to make independent determinations and separately state findings of fact and conclusions of law in assessment disputes regarding property valuation, including market analysis, highest and best use determination, construction costs, and comparable properties analysis.

Mandates the tribunal evaluate all three valuation methods (comparable sales, capitalization of income, and cost less depreciation) and provide substantial justification supported by evidence for disregarding any method.

Requires the tribunal to identify comparable properties with verified information, same highest and best use, consistent economic conditions, and exclude properties subject to private restrictions that impair highest and best use or limit economic development.

Establishes that all tribunal determinations must comply with generally accepted appraisal principles and the "Uniform Standards of Professional Appraisal Practice" promulgated by the Appraisal Foundation, with parties able to stipulate to findings only if providing adequate evidentiary basis.