Legislation reduces tax burden by 47% on forest property owners, highlighting long-term savings potential.
Forest land owners, by combining with other tax payers to limit the rate of taxation under the general property tax, reduced their taxes in Michigan $4,614,561, or 47 per cent annually, with the prospects as old bond issues are liquidated of reducing the burden 61 per cent. This is the first legislation to bring about immediate and substantial tax savings to all forest land owners.
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P. A. Herbert (1936) studied this question.
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