2006 House Bill 5694

Allow senior home trade-down tax break

Introduced in the House

Feb. 16, 2006

Introduced by Rep. Shelley Goodman Taub (R-40)

To exempt a senior citizen who sells a Michigan home and purchases a less expensive home from the Proposal A taxable value “pop up,” where the basis for property tax assessments becomes the property’s state equalized value (market value), rather than the (lower) capped taxable value of the previous owner.

Referred to the Committee on Tax Policy