Property tax: tax tribunal; certain tribunal determinations in assessment disputes as to the valuation of property; require. Amends sec. 37 of 1973 PA 186 (MCL 205.737).

HB 5867 amends Michigan's tax tribunal act to clarify how property tax appeals are handled and how refunds are calculated when assessments are found unlawful. The bill outlines specific rules for determining a property's taxable value and state equalized valuation, while also detailing the burden of proof for both the taxpayer and the assessing agency. It further establishes procedures for taxpayers to amend their appeals to include claims for refunds from subsequent years if they paid extra taxes due to errors, along with specific interest rates for those refunds. This legislation directly affects property owners and tax assessors by standardizing the process for resolving valuation disputes and seeking monetary corrections.