MI HB4307

Adds requirement that true cash value of real property assessed in prior 2 tax years must equal the average true cash value across the current tax year and those 2 prior years.

Applies averaging requirement only to parcels with prior assessments; property without 2 prior years of assessments uses current year true cash value.

Makes existing definition of "true cash value" subject to the new averaging provision in subsection (9).

Takes effect only if Senate Bill No. ____ or House Bill No. 4306 is enacted into law (tie-bar provision).