Sec. 20. Any port district owning and operating an income-producing public improvement shall pay from such income annual sums in lieu of taxes to the county, city, school district or other taxing unit of the state, with respect to any real or personal property held by it and which constitutes a part of such improvement. The amount so paid to each taxing unit in each year shall be equivalent to the taxes which would have been paid if such property were not exempt from taxation. The port district shall have the same right of appeal as is provided by law to any other taxpayer insofar as any levy or assessment of such taxes is concerned.
Mich. Comp. Laws § 120.20
Public improvements; income producing; payment in lieu of taxes
Applied in 1 court decision — leading case 43 Mich. App. 178 - Sprik v. REGENTS OF THE UNIVERSITY OF MICH. (1972)
Most recently applied in 43 Mich. App. 178 - Sprik v. REGENTS OF THE UNIVERSITY OF MICH. (September 1972)
1925, Act 234, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.