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MI HB4378
Bill
Status
12/8/2022
Primary Sponsor
Alex Garza
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AI Summary
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Extends COVID-19 pandemic personal property tax relief through tax year 2023, requiring personal property temporarily relocated due to the pandemic to be assessed at its ordinary location rather than alternate location.
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Adds whole-home generators to the list of normal maintenance and repairs exempt from increasing assessed value on residential property, alongside existing exemptions for furnaces, water heaters, and alternative energy systems.
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Modifies nonprofit housing property transfer provisions to use the loan amount stated on closing disclosure forms (rather than purchase price) as presumptive true cash value for transfers occurring on or after December 31, 2021.
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Takes effect immediately upon enactment, contingent on House Bill No. 4379 of the 101st Legislature also being enacted into law.
Legislative Description
Property tax: assessments; placement of certain whole-home generators on residential real property for medical purposes; exclude from assessment of true cash value. Amends secs. 14a, 27 & 34d of 1893 PA 206 (MCL 211.14a et seq.).
Property tax: assessments
Last Action
Assigned Pa 240'22 With Immediate Effect
12/8/2022