Last week Larry Ruehlen from the West Bloomfield Observer-Eccentric called me to chat about the proposed moratorium on the pop-up tax, which, if passed, should help to stimulate sales of existing homes. My conversation with Larry made me think about some of the aspects of how this legislation will impact the way I sell real estate. A few things come to mind:
Back to my Prop A/Headlee rants and everything we are seeing in the papers right now about the state of the State’s budget. A quick fix for school funding is to remove the cap on non-homesteaded properties. Homes and buildings that are not primary residences should pay taxes based upon their SEV, not their capped taxable value. The intent of Prop A was to protect the elderly from being taxed out of their homes, not to protect long-time landlords and business owners.
Take a look at Larry’s full article on the proposed moratorium to the pop-up tax.
[tags]pop up tax, michigan property taxes, proposal a, michigan pop up tax, michigan property tax moratorium[/tags]