Repeal of Inventory Tax Passes Out of the House - House Bill 4134 (sponsored by Representative Margaret O’Brien), passed the State House on Thursday with a vote of 74 to 33. House Bill 4134 would keep the non-homestead tax rate, on land only, until a new home is sold. Newly constructed inventory homes would be exempt from taxation until occupied. In order to receive the exemption the home must remain UNOCCUPIED and be for sale. This legislation is not retroactive.
Thank you to the members of the HBAM who took time to send an email to their legislators urging their support of this key legislation. Over 200 emails were sent in a 24 hour timeframe. We will be asking the same when the bill is on the calendar for a vote in the Senate.
So what is next? We expect HB 4134 to be referred to the Senate Finance Committee and be taken up later this month.
Michigan Citizens Agree - EPIC MRA Poll Reveals that Most Michigan Citizens Think a More Stable Houseing Market Would Have an Important Impact on Improving Michigan's Economy - A new statewide poll shows that most Michigan citizens agree that improving the state’s housing industry is important to Michigan’s overall economic recovery. The EPIC MRA poll of 600 Michigan citizens revealed that 74 percent of those surveyed agree that a stable housing market would have a major or important impact on improving Michigan’s economy. The EPIC MRA poll was conducted from January 17, 2012 through January 21, 2012.
Press Release Download
WILS Capital City Recap with Michael Cohen - February 7, 2012 - Bob Filka, MAHB
Lansing State Journal - Take 5 Elliot Eisenberg
Crain's Detroit Business Article "Homebuilders Again Push for Repeal of Tax on Houses Built But Not Yet Sold, February 2, 2012
HBAM Delivers Value - The HBAM has a dedicated team of professionals that work hard to represent and defend members across the state. This short video provides a series of testimonials from government officials, partners and HBAM members about the influence your team has and the work we do.