April 07, 2009 – (RealEstateRama) — Homeowners, neighborhoods and communities are best served when people are able to remain in their homes. Families across our state are struggling to do just that, and I want to make sure they have a fighting chance. That’s why I am working on measures to protect homeowners from property tax increases that are out of step with their home’s actual value.
Legislation I sponsored would make sure that a property’s taxable value doesn’t increase any faster than its assessed value. I also co-sponsored legislation to prevent homeowners from seeing their property taxes go up if the assessed value of their home goes down. In addition, homeowners whose tax assessments fall below the taxable value of their home would see the taxable value of their home also reduced. Both measures would need approval from voters in November.
It’s true these proposals will result in less revenue for government. But just like our hardworking families, government at every level must learn to tighten its belt and live within its means. Common sense and fairness says that if home values are falling, property taxes should not continue to rise. With families leaving our state in droves and those who remain struggling to stay in their homes, how can we justify collecting property taxes that are out of step with home values?
When I came to the Legislature in 1992, Michigan was hurting – property taxes were out of control and families were losing their homes. Today we find ourselves in similar distress, and I will not let government continue to rob our hardworking families. Bringing property taxes back in line with home values is a common sense approach that will help struggling families and communities throughout Michigan. Homeowners shouldn’t have to watch their property taxes climb while their home values drop. I am fighting to change that. I urge our House colleagues to join us in protecting Michigan families during these tough economic times.