| LOW GRADE IRON ORE SPECIFIC |
LEGAL CITATION: |
M.C.L. 211.621 et seq.; 1951 PA 77. |
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| YEAR ADOPTED: |
1951 |
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| BASIS OF TAX: |
In lieu of general property taxation. |
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| MEASURE OF TAX (BASE): |
Rated annual capacity of production and treatment plant, and gross ton value of ore. |
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| RATE: |
Prior to full production: rated annual capacity times 0.55% of value per gross ton, times percent completion of plant. Subsequently: 5-year average production times 1.1% of value per gross ton. |
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| ADMINISTRATION: |
Assessment: Township or city assessor; Michigan Department of Natural Resources, Geological Division. Collection: Township or city treasurer. |
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| REPORT AND PAYMENT: |
Same as General Property Tax. |
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| DISPOSITION: |
Distributed to local units in same proportion as general property tax except that school portion is paid to School Aid Fund. |
