Introduced
by
To revise a <a href="http://www.michiganvotes.org/2014-HB-5552">2014 law</a> that exempts the transfer of residential property from a decedent to a trust whose beneficiaries are members of the decedent’s family, from the taxable value “bump up,” wherein the new basis for property tax assessments becomes the property’s state equalized value (market value), rather than the capped “taxable value” of the previous owner. The bill would expand this to include spouses of the trust beneficiaries.
Referred to the Committee on Local Government
