The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

They must sign the form.My contractor says he is a business and does not need a 1099He is wrong.There is an exemption for corporations, both C-corporations and S-corporations.

I would write in clauses that had the tenant waiving their rights to notices, waiving their right to their "exempt" personal property that could be attached, etc.

The major downside is because it will be a rental first you won’t get 100% of the sec 121 exemption on capital gains if you ever sell.

You have probably missed the appeals Window for this year.Your taxes could actually more than double since you probably have a baseline home exemption limit.Your taxes are the combination of your valuation and the tax levy rate.  

Most purposes for which people on the BP forums are transferring properties to an LLC, would be exempt of the Due On Sale Clause.

Note - If you answered yes to both of these questions you can receive a federal tax exemption for up to $500,000.

There are conflicting regulations as to the exemption of 2 or 3 deals by a seller and these may or may not apply to dealers in the business of real estate, so check again at the state level and to assume on the safe side, go with 2, not 3.

Property is 60% debt financed60% of the income is initially looked at by the taxYou apply a $1000 base exemption, then 60% of all the normal deductions like note interest, depreciation, property taxes, etc.  

The redemption period is 6 months for all properties without an exemption, homestead or otherwise.