New Exemptions from the Uncapping of the Taxable Value of Residential Real Property
2014 PA 310, signed late last year, provides a number of new exemptions from the “uncapping” of a property’s taxable value upon transfer of ownership of residential real property to certain relatives, and even includes certain transfers from trusts and estates. In general, under MCL 211.27a whenever a transfer of ownership of real property occurs, … Continue reading New Exemptions from the Uncapping of the Taxable Value of Residential Real Property