Exhibit 12

TAUBMAN CENTERS, INC.

Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
(in thousands, except ratios)

	Three Months Ended March 31
	2005			2004
Earnings before income from equity investees	$	9,146		$	9,609
Add back:
Fixed charges	$	29,213		$	26,439
Amortization of previously capitalized interest		911			861
Distributed income of Unconsolidated Joint Ventures		9,070			9,593
Deduct:
Capitalized interest		(2,377	)		(1,100	)
Preferred distributions		(615	)		(2,250	)
Earnings available for fixed charges and preferred dividends	$	45,348		$	43,152
Fixed Charges:
Interest expense	$	25,540		$	22,572
Capitalized interest		2,377			1,100
Interest portion of rent expense		681			517
Preferred distributions		615			2,250
Total fixed charges	$	29,213		$	26,439
Preferred dividends		6,150			4,150
Total fixed charges and preferred dividends	$	35,363		$	30,589
Ratio of earnings to fixed charges and preferred dividends		1.3			1.4