Tips for buying or selling real estate. Homes for sale in Leelanau, Benzie, Antrim and Grand Traverse county.
Showing posts with label real estate law. Show all posts
Showing posts with label real estate law. Show all posts
Tuesday, May 22, 2012
Critical Dunes Act
Lawmakers Introduce Major Improvements to Critical Dunes Act
Senate Majority Floor Leader Arlan Meekhof (R-Olive Township) and Representative Jon Bumstead (R-Newaygo) have introduced legislation, Senate Bill 1130 and House Bill 5647 respectively, aimed at applying a less subjective approach to critical dune regulation. REALTORS®, builders, and property owners living and working within the critical dunes can attest to the fact that the application of the Critical Dunes Act has been inconsistent and frustrating for many years.
The changes proposed by Senator Meekhof and Representative Bumstead, supported by both the MAR and the Michigan Association of Home Builders, are the product of lengthy negotiation and agreement with the Department of Environmental Quality. Heretofore, the private property within the critical dunes area has been subject to significant red tape, inconsistent treatment, and often outright prohibition in terms of development and the exercise of private property rights. Efforts as simple as permitting driveway access to an owner’s property have been stifled due to a lack of clarity on how the law should be applied. Read More...
Monday, April 30, 2012
Principal Residence Exemption Filing Dates
Earlier this week, the Michigan House of Representatives voted 109-1 in support of legislation providing a fair process when it comes to their property taxes. The bill now heads to the Governor, where we expect his signature before May 1st.
Senate Bill 349, sponsored by Senator Dave Hildenbrand (R-Lowell) creates two Principal Residence Exemption (PRE) filing dates; one on June 1st, and the other on November 1st. Additionally, this legislation allows bank-owned properties to retain their PRE so that buyers can qualify at the lower rate of taxation. This is particularly important since foreclosures have flooded the market in recent years.
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