Cottage Law Blog – Page 3 – Cottage Law

PUBLIC ACT 310 NOW EFFECTIVE!

October 16, 2014 By David S. Fry 40 Comments

PUBLIC ACT 310 NOW EFFECTIVE! Public Act 310 of 2014 (HB 5552) was passed and signed by Governor Snyder in October, 2014. This new law created another exemption from the “uncapping” of property values for property tax purposes on transfers of … [Read more...]

Filed Under: Cottage Law Blog, Featured Tagged With: 2012, 2014, adopted, affinity, assessing, assessment, assessor, attorney, beneficiaries, beneficiary, blog, brother, corporation, cottage, cottage law, Cottage Law Center, cottage succession planning, daughter, David, David Fry, death, deceased, December 31, Department of Treasury, family, father, first degree, Fry, Governor, granddaughter, grandson, HB 5552, house, House Bill 5552, Last Will and Testament, Legislature, limited liability company, LLC, Michigan, mother, new law, October, owner, PA 310, PA 497, partnership, personal representative, property, property taxes, property value, Pubic Act 310 of 2014, Public Act 310, Public Act 497, Public Act 497 of 2012, qualify, question, real estate, real property, saving the family cottage, schedule, senate, settlor, SEV, sister, Snyder, son, State of Michigan, step, tax bill, Tax Tribunal, taxable value, transfer, transfer of ownership, transferee, transferor, Trust, trustee, uncapped, value, will

PUBLIC ACT 497 NOW EFFECTIVE!

January 2, 2014 By David S. Fry 14 Comments

Public Act (PA) 497 was passed and signed by Governor Snyder in December, 2012, and created an exemption from “uncapping” of property values for property tax purposes on transfers of ownership of residential property (including vacation property) if … [Read more...]

Filed Under: Cottage Law Blog, Featured Tagged With: 2014, affinity, affinity to the first degree, attorney, blog, cottage, cottage law, Cottage Law Center, cottage schedule, daughter, David Fry, David S. Fry, December, December 16, December 31 2013, effective, Esq., estate, family, father, first degree, Governor, January, January 1, law, legislation, Michigan, mother, new, new law, P.A. 497, PA 497, planning, property taxes, property value, Public Act 497, Public Act 497 of 212, qualify, real estate, real property, real property taxes, Richard Snyder, Rick Snyder, saving the family cottage, SEV, share, son, State of Michigan, state tax commission, taxable value, time-sharing, transfer of ownership, transferee, transferor, uncapping law, update, www.cottagelaw.com

UPDATE ON PUBLIC ACT 497 OF 2012-UNCAPPING TRANSFERS OF PROPERTY

December 17, 2013 By David S. Fry 16 Comments

On December 16, 2013, the Michigan State Tax Commission issued Bulletin 23 which deals with transfers of ownership of real property and the impact on taxes assessed on transferred property. The State Tax Commission is a 3 member agency appointed by … [Read more...]

Filed Under: Cottage Law Blog, Featured Tagged With: 2014, affinity, affinity to the first degree, attorney, blog, cottage, cottage law, Cottage Law Center, cottage schedule, daughter, David Fry, David S. Fry, December, December 16, December 31 2013, Esq., estate, family, father, first degree, Governor, January, January 1, law, legislation, Michigan, mother, new, new law, P.A. 497, PA 497, planning, property taxes, property value, Public Act 497, Public Act 497 of 212, qualify, real estate, real property, real property taxes, Richard Snyder, Rick Snyder, saving the family cottage, SEV, share, son, State of Michigan, state tax commission, taxable value, time-sharing, transfer of ownership, transferee, transferor, uncapping law, update, www.cottagelaw.com

Public Act 497 of 2012 – Transfer of Ownership Update on Real Property Taxes in Michigan

September 19, 2013 By David S. Fry Leave a Comment

On December 28, 2012, Michigan Governor Richard Snyder signed new legislation which will have a significant impact on the way Michigan residential property (including vacation property) is assessed for property taxes [Public Act (“P.A.”) 497]. This … [Read more...]

Filed Under: Cottage Law Blog Tagged With: 2014, affinity, affinity to the first degree, attorney, blog, cottage, cottage law, Cottage Law Center, cottage schedule, daughter, David Fry, David S. Fry, December, December 31 2013, Esq., estate, family, father, first degree, Governor, January, law, legislation, Michigan, mother, new, new law, P.A. 497, PA 497, planning, property taxes, property value, Public Act 497, Public Act 497 of 212, qualify, real estate, real property, real property taxes, Richard Snyder, Rick Snyder, saving the family cottage, SEV, share, son, State of Michigan, state tax commission, taxable value, time-sharing, transfer of ownership, transferee, transferor

Return to top of page

Copyright © 2018 Cottage Law Center

Phone: (616) 874-1200 | Fax: (616) 874-1201
6739 Courtland Drive, N.E., Suite 101, Rockford, MI 49341-7217

Advice on this site may not be suited to your situation and should not be acted upon without consulting a professional advisor. Circular 230 disclaimer: (1) nothing contained in this message was intended or written to be used, nor can it be used or relied upon by you (or any other taxpayer) for the purpose of avoiding penalties that may be imposed on you (or any other taxpayer) under the Internal Revenue Code, (2) any written statement contained in this message relating to any Federal tax transaction or matter may not be used by any person to support the promotion or marketing of or to recommend any federal tax transaction(s) or matter(s) addressed in this message, and (3) you (or any other taxpayer) should seek advice based on your (or any other taxpayer's) particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this message.