The Michigan Department of Treasury recently released the Headlee Millage Reduction Fraction inflation rate multiplier for 2020, capping property value growth to 1.9% for the coming year, a drop from the current 2.4% inflationary growth allowance. This continues a trend of sub-2% cap rates from most of the past decade.
Treasury’s detailed bulletin can be found here:
Chris Hackbarth is the League’s director of state & federal affairs. He can be reached at 517-908-0304 and [email protected].