HB 4014
Property tax: assessments; transfer of ownership of certain real property to certain individuals; exempt from uncapping of taxable value upon transfer. Amends sec. 27a of 1893 PA 206 (MCL 211.27a).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies how property taxes are assessed in Michigan, particularly concerning transfers of property ownership. It aims to exempt certain property transfers from the usual annual property value adjustments (uncapping) when the property changes hands. Specifically, it clarifies rules around transfers involving trusts, estates, and other legal arrangements, and it addresses the assessment of qualified agricultural and forest property to ensure consistent tax treatment during and after transfers. The bill also includes provisions related to the assessment of property subject to tax limitation increases and clarifies the definition of ‘transfer of ownership’ for various conveyance types.
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Primary sponsor
Bradley Slagh
Cosponsors
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