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Property; Value, Rental Rate - Mich. Comp. Laws Section 206.117Legal Research Home > Michigan Lawyer > Income Tax Act Of 1967 > Property; Value, Rental Rate - Mich. Comp. Laws Section 206.117 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.
Last modified: January 1, 2008 |