Reseña de Congresshills Apartments v. Township

Congresshills Apartments v. Township de Court of Appeals of Michigan Resumen del Libro

After Remand Petitioner taxpayer appeals from a decision of the Michigan Tax Tribunal, which was entered after reversal and remand by this Court, Congresshills Apartments v Ypsilanti Twp, 102 Mich App 668; 302 NW2d 274 (1981). In the present appeal, as in Congresshills, supra, the issue before this Court is whether the Tax Tribunal properly computed the true cash value of petitioner's property for purposes of assessing taxes for the years 1977-1979. Once more, we reverse the Tax Tribunal's computation of true cash value. At the original hearing, before the remand in Congresshills, supra, the tribunal agreed with the parties that the proper method of determining true cash value was by capitalization of income. The tribunal adopted the capitalization rates advocated by petitioner, 13.68% for 1977; 13.6345% for 1978; and 13.9495% for 1979. None of these rates were the subject of any dispute in the appeal from those original proceedings, Congresshills, supra. The tribunal applied those rates to certain hypothetical market rental income figures advocated by the respondent township's appraiser. This Court reversed, finding that the tribunal committed an error of law in using hypothetical rental rates which petitioner could not legally obtain as a low-income subsidized project. Congresshills, supra, p 677. The Court remanded for the purpose of recalculating true cash value based upon actual rather than hypothetical rental income.

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