MI SB1077

Amends the Tax Tribunal Act to add a new definition of "entire tribunal" as 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 regarding comparable properties used in assessment disputes over real or personal property value.

Mandates that comparable properties must have verified information fully disclosing all private restrictions, covenants, sale terms, financing methods, and market information relevant to property use.

Excludes properties from comparable analysis if private restrictions or covenants substantially impair the highest and best use compared to the assessed property, fail to assist economic development, lack continuing benefit, or materially increase vacancy risk.

Defines "private restriction or covenant" as requirements in deeds, leases, or contracts that restrain, limit, or require specific use of property.