A bill to amend 1893 PA 206, entitled “The general property tax act,” (MCL 211.1 to 211.155) by adding section 7yy.
House Bills 5996 creates a temporary partial property tax exemption for principal residences in Michigan that experience a significant taxable value increase after a transfer of ownership, reducing the impact of sudden tax hikes for new homeowners.
Co-sponsored by Reps.
Referred to the Committee on Government Operations
