Dowagiac Ltd. Dividend Housing Ass'n v. City of Dowagiac

Dowagiac Limited Dividend Housing Association, petitioner and owner of Vineyard Place, appeals from the decision of the Michigan Tax Tribunal that increased the property’s assessment for the 1982, 1983 and 1984 tax years. We affirm.

Petitioner is the owner of twenty acres of land on which it built Vineyard Place, a 120-unit apartment complex that was completed in 1981. The complex was completely financed with funds from the Michigan State Housing Development Authority (mshda), which agreed to undertake and carry the mortgage after petitioner had a commitment from the fha to provide housing…