Bill > HB4110

This bill amends the Michigan Seller Disclosure Statement to require sellers to include the estimated annual real property taxes based on the current state equalized value when selling a property. Specifically, the bill modifies the standard disclosure form to add a new section that advises potential buyers about the projected annual property taxes, which will be calculated without any reduction in the state equalized value and based on the current applicable millage rates. The new language emphasizes that buyers should not assume future tax bills will be the same as the seller's current tax bills, as property tax obligations can change significantly when property is transferred. The bill also makes some minor technical edits to the existing disclosure form, such as changing capitalization and updating language around using older versions of the form. This update aims to provide more transparency to home buyers about potential future property tax costs by requiring sellers to estimate and disclose the annual taxes based on the property's current assessed value.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4110