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MI HB6293
Bill
Status
6/30/2022
Primary Sponsor
Jeffrey Yaroch
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AI Summary
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Amends Michigan's Seller Disclosure Act to modify the required seller's disclosure statement form used in property sales.
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Changes grammatical language throughout the form, including replacing "shall" with "must" and "is required to" with "shall" in various sections.
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Requires disclosure statement to include estimated annual real property taxes based on current state equalized value and current applicable millage rates, without reduction for taxable value limitations.
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Adds buyer advisory language explaining that future tax bills may differ significantly from seller's current bills under Michigan law, and directs buyers to contact local assessor's office for tax information.
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Allows seller disclosure forms printed before the effective date to be used for 90 days after the amendment takes effect.
Legislative Description
Property: land sales; seller disclosure statement; require to reflect yearly property taxes based on current assessed value of property. Amends sec. 7 of 1993 PA 92 (MCL 565.957).
Property tax: assessments
Last Action
Bill Electronically Reproduced 06/30/2022
7/20/2022