Yesterday the House Tax Policy Committee passed HB 4121, a bill that as substituted would allow local units of government to exempt property purchased from a school district from real property taxes for five years. The committee passed version is available here: HB 4121.pdf (89.54 kb)
As it passed committee the bills would automatically exempt these properties unless the local unit of government passes a resolution to place them back on the tax rolls.
The bill has now gone to the full House for consideration.
Samantha Harkins is the Director of State Affairs for the League. She can be reached at 517-908-0306 and sharkins at mml.org.