Exhibit 12

TAUBMAN CENTERS, INC.

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

	Six Months Ended June 30
	2005		2004
Earnings before income from equity investees	$ 11,001		$ 12,262
Add back:
Fixed charges	$ 60,151		$ 53,937
Amortization of previously capitalized interest	1,822		1,723
Distributed income of Unconsolidated Joint Ventures	18,442		18,372
Deduct:
Capitalized interest	(5,155	)	(2,458	)
Preferred distributions	(1,230	)	(4,739	)
Earnings available for fixed charges and preferred dividends	$ 85,031		$ 79,097
Fixed Charges
Interest expense	$ 52,032		$ 45,725
Capitalized interest	5,155		2,458
Interest portion of rent expense	1,734		1,015
Preferred distributions	1,230		4,739
Total fixed charges	$ 60,151		$ 53,937
Preferred dividends	12,300		8,300
Total fixed charges and preferred dividends	$ 72,451		$ 62,237
Ratio of earnings to fixed charges and preferred dividends	1.2		1.3