REALTOR® Membership Represented at the State of the State Address
MAR President Beth Foley, along with Dave Maturen, MAR Public Policy Committee member and Chairman of the Kalamazoo County Board of Commissioners, watched Governor Rick Snyder present his second State of the State Address live in the Michigan House of Representatives last Wednesday.
Dave Maturen was a guest of Michigan House Speaker Jase Bolger (R-Marshall), who represents portions of Calhoun and Kalamazoo counties. President Foley was seated on the House floor as a guest of Senate Majority Leader Randy Richardville (R-Monroe).
“It was both an honor and a privilege to hear Governor Snyder’s address. I was proud to attend, along with Dave Maturen, as a representative for REALTORS® all across Michigan,” said Foley. Reflecting on the speech, she felt that it was a positive message: “The Governor’s message, that Michigan is on the right track with job creation and building a better business climate, is extremely important and cannot be reinforced enough.”
Maturen added, "Governor Snyder’s emphasis on continued regulatory reform should bode well for the business and the real estate environment in Michigan. His continuing effort for the New International Trade Crossing and embracing new road funding will benefit commerce and the overall economic climate in Michigan."
The annual presentation by Michigan’s Governor is a major political event and kicks off a new year of policy work in Lansing.
MAR Pushing for Property Tax Relief
MAR public policy staff has been meeting with interested parties to help push forward much needed property tax relief for Michigan homebuyers. Senate Bill 349, introduced by Senator Dave Hildenbrand (R-Lowell) allows buyers to take advantage of the Principal Residence Exemption even if they purchase a home after the May 1st filing deadline. Similarly in the House, House Bill 4446, sponsored by Representative Margaret O’Brien (R-Portage) has been introduced mirroring the intent of Senate Bill 349. Senate Bill 349 has passed the Senate Finance Committee and is awaiting further action.
This legislation has become particularly important since “non principal residence” properties, specifically foreclosures, have flooded Michigan’s real estate market in recent years. The current situation prices buyers out of homes by forcing them to qualify for a mortgage at the higher tax rate. Those buyers that are able to purchase after May 1st are consequently stuck with a significant tax burden for the remainder of the year despite making that new purchase their principal residence. These bills would alleviate some of that pressure by creating additional filing dates throughout the year.
MAR staff has been participating in workgroups to further analyze this legislation and come to a consensus with all the parties involved. These bills will more than likely veer from their original language as we have discussed additional filing dates and allowing a bank owned property to retain its Principal Residence Exemption so that buyers can qualify at the lower rate of taxation. It is our hope that the end legislation will allow homebuyers the similar tax relief as those who file their Principal Residence Exemption before the current May 1st filing deadline. We will keep you posted as this legislation progresses.
2012 RPAC State Goal
This week, the MAR RPAC Trustees met and set the 2012 state RPAC goal. This year’s goal is $425,000. Based on membership numbers, that equals out to about $20 per member. With last year’s state goal of $410,000 being exceeded by over $10,000, the Trustees felt that this year’s goal is a challenging, yet attainable goal for all members. They have also set a member participation goal of 37%.
The 2012 RPAC Trustees are ready and motivated to help their designated local associations attain their RPAC goals this year. From crafting RPAC fundraising ideas, to getting information out to members about the benefits of RPAC, the Trustees are available to assist in any way they can. Typically, each RPAC Trustee works with 2-3 local associations to offer assistance in any RPAC efforts that particular local may be heading. To find out who your designated RPAC Trustee is, and/or your local association goal for 2012 please contact the MAR offices at 1-800-454-7842.
The new 2012 legislative year is sure to bring focus on the specific issues, and the MAR, and RPAC will continue to work hard on your behalf to promote and protect the real estate industry.