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2016 House Bill 5578: Clarify "big box" store property taxation
Introduced by Rep. David Maturen (R) on April 19, 2016
To require the state Tax Tribunal (and indirectly, local property tax assessors) to assess “big box” stores based more on "highest and best use" factors rather than a lower value based on claims that the property would not be easily filled if vacant. This refers to whether these large structures are uniquely less valuable if vacant than other commercial properties that are supposedly easier to use for other purposes. The bill also limits store owners from "gaming" the system by placing deed restrictions on closed stores that lower their value (and tax assessment).   Official Text and Analysis.
Referred to the House Tax Policy Committee on April 19, 2016
Reported in the House on May 18, 2016
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered by Rep. David Maturen (R) on June 8, 2016
The substitute passed by voice vote in the House on June 8, 2016
Received in the Senate on June 9, 2016
Referred to the Senate Finance Committee on June 9, 2016

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