State Codes and Statutes
Statutes > Michigan > Chapter-206 > Act-281-of-1967 > 281-1967-3 > Section-206-117INCOME TAX ACT OF 1967 (EXCERPT)
Act 281 of 1967
206.117 Property; value, rental rate.
Sec. 117.
Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at 8 times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.
History: 1967, Act 281, Eff. Oct. 1, 1967
