A bill crafted to aide homeowners who want to appeal their property tax assessments is on the move in the legislature.
Senate Bill 395 introduced by Senator Roger Kahn (R-Saginaw) requires property tax assessment notices to be sent to property owner at least two weeks before the meeting by the local Board of Review.
Under current Michigan law, property tax assessment notices are mailed out 10 days prior to a scheduled Board of Review meeting.
The Michigan Association of REALTORS® supports this legislation because it levels the playing field for homeowners who believe their assessments are inaccurate by allowing enough time to properly gather the necessary information for filing an appeal.
Last week, Senate Bill 395 passed out of the Senate, and is now awaiting a hearing in the House Intergovernmental and Regional Affairs committee. The MAR will continue to keep you posted as this bill progresses through the legislature.
Two knowledge sessions from the Broker Summit lineup, have now been CE approved for 1 hour each. The Broker Summit being held April 27, 2010 at the Inn at St. Johns in Plymouth offers a variety of knowledge sessions & networking events specifically tailored for the educational needs of Brokers. The courses below are CE approved; check out the
schedule of events for a full knowledge session lineup and become a fan of the
MAR Events Facebook Page for the latest CE approvals.
Houselogic.com - CE 1.0 -
John McArdle
11:00 am - 12:00 pm and 1:45 pm - 2:45 pm
Attend this session for a broker perspective on NAR's Houselogic.com. Explore this unique REALTOR® value as we start the conversation with the consumer
about Homeownership! Find out how to put Houselogic.com to work for you.
Top Technology Tools for the Future -
CE 1.0 -
Verl Workman
11:00 am - 12:00 pm and 1:45 pm - 2:45 pmAdmit it; you just have to have the latest tools and toys - anything with a wow factor. In this fun, fast-paced session, we'll cover a wide range of tools you can either use or download from the web (and maybe a few other things too). We'll focus on tools to help you get noticed, get response, or simply to make your world a little better.
Don't miss out on MAR's 2010 Broker Summit and your chance to save! Register by April 20, 2010 for only $119 to attend the ONE PLACE where Michigan brokers unite to improve..for less!
Register Now!
MAR 2010 President Bob Taylor offers a timely message about the power of a united membership via the Mirealtors.com new SmartCast Podcasting. Smartcasts feature an audio message to MAR members each month encouraging member awareness and involvement on key issues affecting the real estate industry.
This month's message, taken from our award winning REALTOR® Magazine March issue, will give MAR members some insight as to how the power of our association as a group continues the fight for REALTOR® friendly legislation on the local, state and national levels within the industry.
To listen to the March edition, visit the
SmartCast Web site
WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.
Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after March 18, 2010. This reduced tax withholding will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. The employer and employee’s shares of Medicare taxes would also still apply to these wages.
In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1,000 per worker, when they file their 2011 income tax returns.
“These tax breaks offer a much-needed boost to employers willing to expand their payrolls, and businesses and nonprofits should keep these benefits in mind as they plan for the year ahead,” said IRS Commissioner Doug Shulman.
The two tax benefits are especially helpful to employers who are adding positions to their payrolls. New hires filling existing positions also qualify but only if the workers they are replacing left voluntarily or for cause. Family members and other relatives do not qualify.
In addition, the new law requires that the employer get a statement from each eligible new hire certifying that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for someone else during the 60-day period. The IRS is currently developing a form employees can use to make the required statement.
Businesses, agricultural employers, tax-exempt organizations and public colleges and universities all qualify to claim the payroll tax benefit for eligible newly-hired employees. Household employers cannot claim this new tax benefit.
Employers claim the payroll tax benefit on the federal employment tax return they file, usually quarterly, with the IRS. Eligible employers will be able to claim the new tax incentive on their revised employment tax form for the second quarter of 2010. Revised forms and further details on these two new tax provisions will be posted on IRS.gov during the next few weeks.
With the help of McClelland & Anderson, we are taking the most commonly asked questions from our legal hotline and putting them in E-news. We will be featuring a different question each issue.
QUESTION: I am representing a Seller in connection with a short sale transaction. It is my understanding that short sale transactions are exempt from the Seller Disclosure Act. Am I correct?
ANSWER: NO. Short sale transactions are not exempt from the Seller Disclosure Act. However, if a lender acquires the property through foreclosure or a deed in lieu of foreclosure, the lender is exempt from the Seller Disclosure Act.
Digital 10 Network (D10TV), MAR and NAR have been collaborating to bring relevant information about the real estate industry in front of local communities in an effort to help increase sales. Beginning in early April D10TV will begin airing an extremely informative series of videos from David Bach entitled, “Smart Homeowners.” There aren’t many things that will change someone’s financial future faster than owning a home. And, even in these hard real estate times, it is a great time to buy; this series will help consumers learn how to become a smart homeowner.
D10TV operates a television network inside nearly 100 Secretary of State branch offices throughout Michigan. These networks provide lifestyle programming designed to inform, educate and entertain the public as they wait to have their number called. Extended wait times (30-45 minutes on average) and a captive audience can provide an effective venue, offering an attractive platform to educate the public about best practices and new developments in the residential real estate industry.
Visit
MIrealtors.com to learn more about this unique marketing opportunity, including pricing, sample videos and contact information, to learn more on how to reserve a Secretary of State location in your community. Space is limited.
COMPLETELY FREE service for the Michigan Association of REALTORS
®
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Accelerate your business instantly with this COMPLETELY FREE Michigan REALTORS® Member Benefit. MongoFAX empowers all Michigan REALTORS® to instantly fax paper-based documents (disclosure packages, signed contracts, etc.) directly to any email addresses in the world. All you need is an ordinary fax machine and MAR's designated
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3.
TYPE Email Addresses
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