Buyers May See A Freeze on Property Taxes- Update

As I mentioned, municipalities were very concerned with Bill 4440. House Bill 4441 was introduced a day later and is tied in with the previous bill and would assist local governments with the loss in revenue from House Bill 4440. This bill would raise the transfer tax on any sale 0.1%. If passed, the transfer tax on a sale in Livingston County would be at a rate of .96%. For example, if a home sells for $250,000, the new transfer tax would be $2,400. Currently that tax would be $2,150. - Todd Buckley