Bill > SB0484

This bill amends the General Property Tax Act to expand property tax exemptions for certain properties sold by governmental entities. Specifically, the bill extends the existing tax exemption for properties sold by a land bank fast track authority to also include properties sold by a foreclosing governmental unit that are listed under the Tax Reverted Clean Title Act. The tax exemption period is increased from 5 to 8 years, during which the property will be exempt from tax collection. The bill maintains existing exceptions for properties included in brownfield redevelopment plans, particularly those involving land bank authorities. The legislation also clarifies that while these properties are exempt from general tax collection, they remain subject to specific taxes under the Tax Reverted Clean Title Act. The bill is tied to another piece of legislation (Senate Bill 485) and will only take effect if that companion bill is also enacted into law. This amendment aims to provide more flexibility and incentives for local governments to manage and transfer tax-delinquent properties, potentially supporting urban redevelopment and property rehabilitation efforts.

Housing and Urban Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0484