Breaking News: Pop Up Tax Moratorium Stalls for 2007
Published March 29th, 2007 in Buyer Information, Finance, Real Estate Opinion, Seller Information, Taxes.Just received news (not good news) from Lansing that the proposed moratorium on the pop up tax is not likely to come to be this year. We were looking at it as a short term stimulus for the housing market and were optimistic that it would have helped to motivate home buyers over the coming 18 months. We’ve long felt that a bigger fix is needed for our property tax legislation, but we were at least happy for the bandage that the moratorium would have supplied in the short term. Obviously the State’s budget crisis will not allow for a loss of $90 million in revenue that this time, but the housing market could use a bit of assistance too.
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______________________________________________________________Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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I just got the bad news that the pop up tax will remain.
It is clear that the governor is not looking to help the middle man at all. I have my home for sale in Canton and have been there 14 yrs. with lower taxes than I can find out other if I move. I am considering taking my home off the market because I cannot see paying for a smaller home with higher taxes when I move.
The governor is driving most of us out of Michigan if we move at all. It is getting worse and more empty homes are going to be the case and the banks and mortgage companies will not make any money sitting on them either.
I cannot see anything good happening in Michigan with this governor even though the Senate and or the House of Representatives mean well and care.
Carol,
I agree, it is bad news.
I don’t really think if m, myself as a middle man, but rather as a service provider. But that is really has little to do with the topic at hand or with your current situation. Like you, there are many frustrated home sellers in Michigan right now. This moratorium offered a glimmer of hope for them and for those of us like my family, whose sole income is derived from successfully SELLING homes. Right now it is easy to list them, but selling is a more challenging prospect all together.
Maureen
Our governor does not know how to balance a budget.
She figures if you starve the children it’s okey because you balanced the budget. Lets face it, some ignorant people voted for her again. It’s time for them to move out so we can get on with our state.
Maureen and all MI.residents
Our governor does not know how to balance a budget.She figures it you starve the children, it’s okey because you balanced the budget.
Let’s face it,some ignorant people voted for her again, leaving our housing market even worse. It’s time for them town so we can get on with MI. OR let it be there house in forclosures
MIckie
Mickie,
The last thing I want to see right now is anyone else leave the State of Michigan. Every departed family leaves a whole. Any empty house, a school with less students etc.