Sec. 804. A savings bank subject to this act shall have the following tax exemptions: (a) All mortgages or other securities held by savings banks are exempt from all municipal or other taxes under the laws of this state. (b) All personal property owned by savings banks is exempt from taxation.
Mich. Comp. Laws § 487.3804
Tax exemptions
1996, Act 354, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.