Introduced
by
To exempt from the Proposal A taxable value “pop-up” homestead property that is purchased by a person age 65 or older who has maintained a homestead in Michigan for the previous three years. 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 Committee on Tax Policy
