Bill > HB4014

This bill amends Michigan's property tax law to modify how property ownership transfers affect property tax assessments. Specifically, the bill expands exemptions for property tax reassessments when certain family members transfer property ownership. The changes allow more property transfers between close relatives (including parents, children, siblings, grandparents, and grandchildren) without triggering a property tax value reassessment. The bill also clarifies and expands existing provisions about what constitutes a "transfer of ownership" for tax purposes, such as transfers to and from trusts, transfers through inheritance, and transfers between family members. For example, the bill now allows transfers to a family member and that family member's spouse without causing a property tax reassessment, particularly for residential properties. The bill includes provisions requiring notification of property transfers to local tax authorities and establishes fines for non-compliance. These changes aim to make property transfers between family members more flexible and potentially less financially burdensome by preventing automatic increases in property tax valuations.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4014