Mich. Comp. Laws § 487.3804

Current through Public Act 171 of the 2024 Legislative Session

Section 487.3804 - Tax exemptions

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.

MCL 487.3804

1996, Act 354, Imd. Eff. 7/1/1996 ;--Am. 2000, Act 482, Imd. Eff. 1/11/2001.