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2011 House Bill 4753: Authorize lower assessment for home sale to relatives

Public Act 497 of 2012

Introduced by Rep. Peter Pettalia (R) on June 15, 2011
To exempt from the Proposal A property tax assessment “pop up” the purchase of home by a person who is related to the seller “by blood or affinity to the third degree” (which includes great grandparents or grandchildren, great uncles/aunts/nieces/nephews, second cousins, etc.). The “pop-up” is where the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.   Official Text and Analysis.
Referred to the House Tax Policy Committee on June 15, 2011
Reported in the House on May 30, 2012
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered in the House on June 5, 2012
The substitute passed by voice vote in the House on June 5, 2012
Substitute offered by Rep. Peter Pettalia (R) on June 5, 2012
To replace the previous version of the bill with one that narrows the proposed exemption to transactions between parents and children.
The substitute passed by voice vote in the House on June 5, 2012
To exempt from the Proposal A property tax assessment “pop up” the purchase of home by parent or child of seller. The “pop-up” is where the state equalized value (SEV, meaning market value) of newly-sold property becomes the basis for its property tax assessment, rather than the capped “taxable value” of the previous owner.
Received in the Senate on June 7, 2012
Referred to the Senate Finance Committee on June 7, 2012
Reported in the Senate on June 14, 2012
With the recommendation that the bill pass.
Substitute offered in the Senate on December 12, 2012
The substitute passed by voice vote in the Senate on December 12, 2012
Received in the House on December 12, 2012
Substitute offered by Rep. Jud Gilbert (R) on December 14, 2012
The substitute passed by voice vote in the House on December 14, 2012
Received in the Senate on December 14, 2012
Signed by Gov. Rick Snyder on December 27, 2012

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