March 19, 2009 – (RealEstateRama) — The Michigan Senate recently approved a constitutional amendment I sponsored to help homeowners facing property tax increases out of step with their home’s actual value. Senate Joint Resolution H passed by a vote of 29-8.
SJR H would amend the Michigan Constitution to prevent an individual’s residential property taxes from increasing from the previous year if the assessed value of their home decreased during the same period.
Constitutional amendments require a two-thirds vote for passage, meaning at least 25 of the senators currently serving must support the measure.
If a homeowner’s property tax assessment actually fell below the taxable value of their home, my resolution would allow for the taxable value to decrease with the lower assessment.
The average drop in home values in the 13th Senate District was 11.3 percent. Other nearby communities saw an almost 22 percent decrease in property assessments last year.
If implemented, SJR H would help homeowners across the state.
Homeowners shouldn’t see their property taxes rise while their home values drop.
SJR H now goes to the House of Representatives. I hope my colleagues in the House act swiftly on this crucial resolution. Struggling homeowners across the state need relief now.
by Sen. John Pappageorge