Personal Property Tax Abatement (PA 328)
Personal Property Tax Abatement (Public Act 328)
Michigan Public Act 328 of 1998 allows distressed communities, of which Holland is officially designated, to abate all new personal property taxes in certian geographic areas in order to stimulate economic development. Abatements include all millage, state and local. The act allows all new personal properties installed by an eligible business AFTER local approval to be 100% exempt from personal property taxes for a specified period determined by the local unit of government. After receiving a resolution from the Holland City Council, the Michigan State Tax Commission takes final action on the request for abatement.