New Laws Exempt Certain Forestland from 18-Mill School Operating Millage
Public Acts 378, 379 and 380 of 2006 created the Qualified Forest Property (QFP) program. Owners of smaller forestland parcels that are not classified as agricultural land or do not receive a principal residence exemption may apply to receive reduced property taxes on land in productive, managed forests. The exemption will apply beginning with the 2008 (not 2007) tax year to land in the program as of December 31, 2007 (or subsequent tax days for subsequent tax years). Property owners may apply beginning in 2007.
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