MI SB0113

Amends section 27a of the 1893 Property Tax Act to establish exemptions from property transfer-triggered tax reassessments for transfers of land subject to conservation easements or eligible for qualified conservation contributions under federal tax code section 170(h).

Exempts transfers of residential real property between certain family members (parents, siblings, children, grandchildren) from triggering reassessment if the property is not used for commercial purposes, effective December 31, 2014.

Creates a temporary exemption from reassessment for transfers of residential real property between first-degree relatives by blood or affinity occurring between December 31, 2013 and December 30, 2014.

Extends exemptions to transfers of qualified forest property and qualified agricultural property when the property maintains its designated status and the owner files the required affidavit with local assessors and registers of deeds.

Establishes notification requirements for property transfers, including buyer responsibility to notify assessing offices within 45 days on state tax commission forms, with register of deeds providing monthly notifications to assessing officers.