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Last updated 5:32AM ET
February 25, 2021
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Lansing Lawmakers Try to Ease Housing Crisis
(2007-12-17)
(wgvu) - LANSING, Mich. (AP) - Another round of proposals aimed at
boosting Michigan's slumping housing market is headed to the state
Legislature.
A plan offered by House Republicans would limit property tax
increases and give homeowners more power to challenge tax
assessments. And if a home's actual market value decreases, then
property tax assessments would not increase.
The bills also would limit the increase in property taxes that
occurs when a home is sold. The package would eliminate a real
estate transfer tax.
Several other measures in the package are similar to those
already moving through the state Legislature sponsored by both
Democrats and Republicans.
Michigan has one of the highest foreclosure rates in the nation.
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