House Bill 4753 Signed Into Law on December 31, 2012 Amends General Property Tax Act

Good News!

Enrolled House Bill No. 4753 was signed by Governor Rick Snyder on December 31, 2012. This legislation amends the General Property Tax Act, 1893 PA 206, to allow property transferred to a person related by blood or affinity to the first degree to retain its current taxable value. Previously, the law only allowed the avoidance of the re-valuation, also known as the “pop-up tax,” when property was transferred from one spouse to another or by a decedent to a surviving spouse. A first degree blood relation would include the spouse and children, and a first degree affinity would include stepchildren.

A copy of this legislation can be viewed by clicking on this link HB 4753

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