MI HB5865

Prohibits assessors from using sales of deed-restricted properties as comparable sales when determining true cash value through the comparable-sales assessment method if the restriction prohibits the actual use of the property being assessed.

Defines "private restriction or covenant" as any requirement, provision, or statement in a deed, lease, or contract that restrains, limits, or requires a specific use of the property.

Applies to properties that are either currently being used in a way prohibited by the deed restriction or are readily adapted for such use if not currently in use.

Prevents the comparable-sales method from skewing property assessments based on sales of properties with more restrictive use limitations than the property being valued.