HB5998 amends Michigan property tax law to exempt certain remodeling and renovation costs from property tax assessments.

HB5998 modifies Michigan's property tax assessment rules to exclude the increase in true cash value from specific remodeling and renovation projects from property tax assessments. This exemption applies to one instance of remodeling or renovation per property owner and is limited to $100,000. The bill defines remodeling or renovation as extensive changes to a principal residence, including structural alterations, rewiring, and replacing major components like furnaces and hot water heaters. The exemption does not apply to normal repairs, replacement, or maintenance.

HB5998 amends Michigan property tax law to exempt certain remodeling and renovation costs from property tax assessments.

HB5998 modifies Michigan's property tax assessment rules to exclude the increase in true cash value from specific remodeling and renovation projects from property tax assessments. This exemption applies to one instance of remodeling or renovation per property owner and is limited to $100,000. The bill defines remodeling or renovation as extensive changes to a principal residence, including structural alterations, rewiring, and replacing major components like furnaces and hot water heaters. The exemption does not apply to normal repairs, replacement, or maintenance.