Laws & Taxes
City of Monroe Offers Workshop on Historic Preservation Tax Credits for Residential and Commercial Properties
February 17, 2010 Posted by Michigan RealEstateRama
February 17, 2010 - (RealEstateRama) — State Historic Preservation Office architect Bryan Lijewski will meet with Monroe property owners and developers at a free workshop on Thursday, February 18. The event is being presented by the Monroe Historic District Commission.
Whitmer Donates to Grand Rapids Foreclosure Program to Highlight Need for Reforms
January 18, 2010 Posted by Michigan RealEstateRama
LANSING, MI - January 18, 2010 - (RealEstateRama) — Today, State Senator Gretchen Whitmer (D-East Lansing), originally of Cascade, announced that her entire December legislative expense account was donated to a Grand Rapids foreclosure assistance program to highlight the need for government reform and more transparency in state spending.
STATE APPROVES $7.2 MILLION TAX CREDIT FOR DETROIT REDEVELOPMENT
November 23, 2009 Posted by Michigan RealEstateRama
LANSING, MI - November 23, 2009 - (RealEstateRama) — The Michigan Economic Growth Authority (MEGA) Board this week approved a $7.2 million tax credit for the NSO Bell project expected to invest $50 million in Detroit, State Senator Martha G. Scott (D-Highland Park) announced.
Worker, Homeownership and Business Assistance Act of 2009 Goes to President to Get Signed Into Law
November 9, 2009 Posted by Michigan RealEstateRama
Washington, DC - November 9, 2009 - (RealEstateRama) — On Thursday, the House of Representatives overwhelmingly passed HR 3548, the Worker, Homeownership, and Business Assistance Act of 2009 by a vote of 403 to 12. This bill provides critical aid to families in Southeast Michigan and across the country in the form of extended unemployment benefits, tax relief to businesses, and an extension and expansion of the homebuyers’ tax credit.
House Passes Bill Extending Unemployment Benefits, Homebuyer Tax Credit
November 6, 2009 Posted by Michigan RealEstateRama
WASHINGTON, DC - November 6, 2009 - (RealEstateRama) — Thursday, the U.S. House of Representatives passed H.R. 3548, the Worker, Homeownership and Business Assistance Act of 2009, to provide up to 14 additional weeks of unemployment for jobless workers, with an extra six weeks for those in high unemployment states such as Michigan who have or soon will run out of benefits. The bill, which passed the U.S. Senate on Wednesday, will now go to the president to be signed into law.
Schauer votes to extend unemployment insurance benefits, homebuyers’ tax credit
November 5, 2009 Posted by Michigan RealEstateRama
WASHINGTON, DC - November 5, 2009 - (RealEstateRama) — Today Congressman Mark Schauer (D-MI) voted to stimulate the local economy and provide stability to Michigan families hit hardest by the recession by extending unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses. The Emergency Unemployment Compensation Extension Act (HR 3548) will provide immediate assistance, extending relief to the 62,753 Michigan workers whose benefits would otherwise run out by the end of the year.
CONGRESSMAN PETERS CALLS FOR EXTENSION OF FIRST-TIME HOMEBUYER TAX CREDIT
October 22, 2009 Posted by Michigan RealEstateRama
$8,000 Credit, Which Is Helping Home Sales Rebound, Is Set to Expire at the End of Next Month. Washington, D.C. - October 22, 2009 - (RealEstateRama) — Congressman Gary Peters today urged House leadership to extend the first-time homebuyer tax credit, a measure enacted in February that saves new homebuyers thousands of dollars and has helped the U.S. housing market rebound in recent months. The credit is set to expire November 30th. Congressman Peters, along with a bipartisan group of colleagues, today sent a letter (text below) to House Speaker Nancy Pelosi and Minority Leader John Boehner expressing their desire to extend the credit’s deadline.
Schauer votes to extend homebuyer incentives and provide more stable health care funding for veterans
October 9, 2009 Posted by Michigan RealEstateRama
WASHINGTON, DC - October 9, 2009 - (RealEstateRama) — Congressman Mark Schauer voted to pass two key measures for our American veterans. The Service Members Home Ownership Tax Act (H.R. 3590), which passed with bipartisan support today, will extend the deadline for taking advantage of the first-time homebuyer tax credit under the American Recovery and Reinvestment Act for qualified service members by one year.
Kahn works to make appealing property taxes more ‘user friendly
September 14, 2009 Posted by Michigan RealEstateRama
LANSING, MI - September 14, 2009 - (RealEstateRama) — With property values across the state and country falling while taxes for some homeowners are increasing, Sen. Roger Kahn introduced four measures in the Michigan Senate to make the appeals process more fair and smooth for property owners
Senator George proposes creation of a redevelopment authority
August 20, 2009 Posted by Michigan RealEstateRama
LANSING, MI - August 20, 2009 - (RealEstateRama) — Senator Tom George will be introducing legislation allowing for the creation of a Detroit/Wayne County Redevelopment Authority. A redevelopment authority would enable the city and county to develop a cohesive strategy for stabilizing and redeveloping tax-reverted properties, the lawmaker announced today
Richardville mortgage loan officer licensing requirements bill signed into law to help protect homeowners and reduce fraud
July 29, 2009 Posted by Michigan RealEstateRama
LANSING, MI - July 29, 2009 - (RealEstateRama) — The governor signed a bipartisan legislative package Tuesday that will strengthen existing requirements for loan officers in Michigan, said Sen. Randy Richardville, the main sponsor of the reform plan.
CONGRESSMAN PETERS, REALTORS, LOCAL FAMILY DISCUSS HOMEBUYER TAX CREDIT
July 2, 2009 Posted by Michigan RealEstateRama
Families Considering Buying Their First House Have Limited Time to Save Thousands of Dollars on New Home Purchase This Year. Washington, D.C. - July 2, 2009 - (RealEstateRama) — Congressman Gary Peters, the Michigan Association of Realtors and a local family who recently closed on their first home today gathered at the family’s new house to discuss the tax credit available—for a few more months—that can save first time homebuyers thousands of dollars on the purchase of a new home. The American Recovery and Reinvestment Act, the economic recovery plan Congress enacted in February, created a temporary tax credit worth up to $8,000 for first-time homebuyers to help families become homeowners in tough economic times and to spur home sales in a sluggish housing market. Southeast Michigan foreclosure rates are among the highest in the nation (according to RealtyTrac, Oakland County’s foreclosure rate is in the top 5 percent among all counties nationwide), so encouraging the purchase of empty homes is extremely important for the region.
Governor Signs Foreclosure Package: Bills would give additional time for homeowners facing foreclosure to work with lenders
May 26, 2009 Posted by Michigan RealEstateRama
May 26, 2009 - (RealEstateRama) — Legislation to give homeowners on who are on the brink of losing their home a 90-day period to work out a payment plan with their lending institution has been signed by the Governor. House Bills 4453-4455, now Public Acts 29, 30, and 31 of 2009, would allow consumers who are on the brink of foreclosure a 90-day period to attempt a loan modification plan.
Stabenow: New Law Will Help Families Save Their Homes
May 21, 2009 Posted by Michigan RealEstateRama
WASHINGTON, DC - May 20, 2009 - (RealEstateRama) — U.S. Senator Debbie Stabenow (D-MI) today praised President Obama for signing the Helping Families Save Their Homes Act of 2009 into law. The new law will makes it easier for homeowners and lenders to work together to prevent foreclosures. The legislation passed the Senate earlier this month.
Sen. Kahns bill to clarify property tax assessment notices approved
May 12, 2009 Posted by Michigan RealEstateRama
LANSING, MI - May 12, 2009 - (RealEstateRama) — Legislation designed to help make property tax assessment notices easier to understand for homeowners was approved Wednesday by the Michigan Senate, said sponsor Sen. Roger Kahn, R-Saginaw Township.
