Snyder signs bill easing rental property tax burden

Last Thursday, Michigan Gov. Rick Snyder signed bipartisan legislation lessening property tax obligations for owners of rental properties. "This bill simplifies the tax code, lightens tax burdens for rental home owners and provides improved customer service to both owners and residents," Snyder said. Senate Bill 114, sponsored by state Sen. Vincent Gregory, updates the General Property Tax Act to lighten the tax burden on rental home owners. It also limits the use of occupancy rates in determining the taxable value of a property. The bill aligns the current tax code with the 2002 Michigan Supreme Court ruling in WPW vs. Troy. The bill is now Public Act 164 of 2014. For additional information on legislation, visit legislature.michigan.gov. Published: Mon, Jun 16, 2014

––––––––––––––––––––
 Subscribe to the Legal News!
 http://legalnews.com/Home/Subscription
Full access to public notices, articles, columns, archives, statistics, calendar and more
Day Pass Only $4.95!
One-County $80/year
Three-County & Full Pass also available