A bill to amend 1893 PA 206, entitled “The general property tax act,” by amending section 27a (MCL 211.27a), as amended by 2016 PA 375.
This bill seeks to ensure properties are assessed at 50% of their true cash value as mandated by the state constitution and to clarify the taxable value adjustment process upon property ownership transfers. It defines "transfer of ownership" and specifies conditions under which transfers related to trusts, wills, intestate succession, and changes in trust beneficiaries do not trigger reassessment, particularly when properties remain within the family and are not commercially utilized.
Introduced
by
Referred to the Committee on Tax Policy
