Property tax: exemptions; exemption for certain remodeling and renovations; provide for. Amends sec. 27 of 1893 PA 206 (MCL 211.27).

Summary

The bill changes how Michigan assessors calculate a home’s true cash value, ignoring value added by routine repairs, replacements and some upgrades until the house is sold. It also requires buyers to identify financing, personal‑property and surveying costs so those amounts aren’t counted in sales‑price data used for assessments. The goal is to keep residential property taxes from rising due to ordinary maintenance.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share