Real Estate Tax Change Introduced

Jun 14, 2024

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

Representative Donni Steele (R-Orion) introduced legislation she believes will help combat the high cost of living residents are experiencing.

Key Points:

    • House Bills 5811 – 5814 eliminates the Real Estate Transfer (RET) Tax.
    • Currently, the state taxes $3.75 of every $500 of transferred property.
    • For example, if a family sells their home for $125,000, they will owe nearly $1,000 in taxes.

Next Steps:

    • The bills were referred to the House Tax Policy for consideration.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.

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