Tax Incentive ProgramsIndustrial Facilities (IFT) Tax Incentives:PA 198 of 1974 provides a tax incentive to manufacturers in order to enable renovation and expansion of aging facilities, building of new facilities, and to promote establishment of high tech facilities. An IFT certificate entitles the facility to exemption from ad valorem real and/or personal property taxes for a period of 1 to 12 years. A certificate holder will pay a specific tax known as the Industrial Facility Tax. Applications are filed, reviewed and approved locally with the local unit determining the number of years granted, but are also subject to review at the state level by the Property Services Division and the Michigan Economic Development Corporation. The State Tax Commission is ultimately responsible for final approval and issuance of certificates. Exemptions are not effective until approved by the Commission. Submitted Projects:
| Project | Type | Received |
| Caraco | P.A.198 | 07-Mar-05 |
| Mi Btlg&Custom | P.A.198 | 29-Mar-06 |
| Northern Seafood | P.A.198 | 09-Mar-06 |
New Personal Property:PA 328 of 1998, as amended, provides 100% property tax exemption for specific businesses located in eligible distressed communities. The exemption is for all new personal property placed in a district that has been established by the local unit of government. The local unit of government determines the number of years granted for the exemption. Applications are approved at the local and state levels. The State Tax Commission is ultimately responsible for final approval. Exemptions are not effective until approved by the Commission. Approved Projects:
Project
| Type | Approved
|
| Compuware | P.A.328 | |
| Price Waterhouse Coppers | P.A.328 | Dec-05 |
| Michigan Box | P.A.328 | 29-Jun-05 |
| Bodman | P.A.328 | Jan-06 |
Obsolete Property Rehabilitation (OPRA):PA 146 of 2000 provides commercial and commercial housing property tax exemptions. Applications must be approved at the local and state levels, with a certificate issued by the State Tax Commission to be effective. The property must have at least a 50% obsolescence finding form an eligible community assessor and be located in an established OPRA District. Exemptions are approved for one to twelve years to be determined by the local unit of government with taxes based on the previous years (prior to rehabilitation) taxable value. This value is frozen for the length of the abatement. Each year the State Treasurer may approve 25 additional reductions of half the school operating state education taxes for a period not to exceed six years. Submitted projects:
Project
| Type | Received
|
| 3080 Outer Drive | P.A.146 | 21-Dec-05
|
| 504 Brainard | P.A.146 | 10-Jun-06 |
| A&SHospPlaza | P.A.146 | 14-Sep-05 |
| Bagley Hsg Assoc | P.A.146 | 02-Jun-06 |
| Clark Estates | P.A.146 | 06-Jun-06 |
Neighborhood Enterprise (NEZ):PA 147 of 1992 provides for the development and rehabilitation of residential housing located in eligible distressed communities. A certification holder will pay a specific tax known as the Neighborhood Enterprise Zone Tax. Applications are filed, reviewed and approved locally, but are also subject to review at the state level by the property Services Division. Exemptions are approved for a new or rehabilitated facility as allowed by the Act. The State Tax Commission is ultimately responsible for final approval and issuance of certificates. Exemptions are not effective until approved by the Commission. Submitted projects:
| Project | Type
| Received |
| BlakeEstate | P.A.147 | 11-Jun-04 |
| Book Cadillac | P.A.147 | 28-Nov-05 |
| Campus Square | P.A.147 | 14-Nov-05 |
| Cass Corner | P.A.147 | 05-Aug-05 |
| CenterBusDist | P.A.147 | 10-Nov-04 |
| Cooley/Houghton | P.A.147 | 13-Jul-05 |
Eddystone
| P.A.147 | 04-Dec-05 |
| HabitatHumanity | P.A.147 | 18-Jun-04 |
| Harbor Hill | P.A.147 | 04-Feb-04 |
| Heritage Park | P.A.147 | 22-Jan-04 |
| Kercheval/McClellan | P.A.147 | 02-May-05 |
| Landtech | P.A.147 | 24-Oct-05 |
| Maplewood | P.A.147 | 09-Aug-04 |
| Messiah Hsg Corp | P.A.147 | 06-Apr-06 |
| People 1st Com #2 | P.A.147 | 12-Apr-06 |
| Prevailing Town Ctr | P.A.147 | 05-Nov-05 |
| S & S Development | P.A.147 | 16-Apr-06 |
| Village Estates | P.A.147 | 19-Jul-04 |
| Vinewood Park | P.A.147 | 04-Aug-04 |
| APPROVED NEZ AREAS | P.A. 147 | |