NEWS ALERT: 5/50 Legislation Pending in the Michigan State House

NEWS ALERT: 5/50 Legislation Pending in the Michigan State House

State Representative Tom Barrett (R, House District 71) has introduced legislation that will revise state law to clarify that properties subject to the 5/50 tax collection can be foreclosed on by the county treasurer when those taxes are delinquent. House Bill 4984 will effectively close the 5/50 tax foreclosure loophole by providing a clear path forward for county treasurers and land banks when owners fail to pay the 5/50 special tax assessed on properties sold or transferred by a land bank. HB4984 was introduced this fall on October 13, 2015, and approved by the House Committee on Tax Policy on March 9, 2016. HB4984 is now pending on the floor of the House. Click here for more information on House Bill 4984.

No Comments

Sorry, the comment form is closed at this time.