Introduced by Rep. Robert Gosselin (R) on March 23, 2006, to exempt from the Proposal A taxable value “pop-up” homestead property that is purchased by a person age 65 or older who had a homestead in Michigan in the previous year. The “pop-up” is where the state equalized value (market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner, which is lower.
Referred to the House Tax Policy Committee on March 23, 2006.