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   MAR E-News

 

Personal Property Tax Reform Plan to be Introduced in Michigan Legislature

One of Governor Snyder’s top priorities since taking office has been to eliminate Michigan’s outdated tax structure. One big step toward such reform was taken in 2012 with the passage of the Personal Property Tax (PPT) phase-out. Today, the Senate passed a package of bills that aim to help local governments recoup projected losses from the elimination of the PPT on industrial machinery and small businesses while strengthening Michigan’s business climate.

The current law, which passed in the final days of 2012, provides for 80% of reimbursement of revenue to the local unit of Government. This new 10-bill legislative package provides 100% reimbursement to local units of government, and establishes reliable funding systems for Michigan communities to pay for police, fire, ambulances, jails, schools, libraries, and other services beginning in 2016. In addition, the small business exemption remains in place. This exemption is crucial to many of our real estate brokerages in Michigan. The MAR Public Policy Committee has been highly supportive of the new reform approach and believes it creates additional incentives to attract and retain businesses and manufacturing companies in Michigan.

Last week, the MAR testified in support of this package, and reiterated that this plan creates a competitive tax structure which will strengthen Michigan’s economy while stabilizing the funding system of Michigan communities. The bills now move to the House for consideration. Should this package of bills pass the legislature as expected, Michigan voters would still need to approve this new funding approach. The MAR will continue to monitor these bills and update the membership as they move through the legislature. 

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MAR Teams with the Ontario Real Estate Association in Consumer and Member Education Initiative

Under the strong leadership and vision of MAR’s Immediate Past President, Bill Milliken, and the MAR Cross-Border Task Force, REALTORS® in both Michigan and Ontario have spearheaded an effort to develop an informational dialogue for the promotion of the real estate industries in both Michigan and Ontario. Through the development of companion education pieces, REALTORS® and Consumers in Michigan and Ontario can now get an introduction to the issues involved in real estate across borders.

Michigan and Ontario each feature unique regulatory structures for real estate professionals. A working knowledge of these structures is paramount for buyers, sellers, and real estate professionals alike. Both Associations view this effort as an important partnership aimed at education and international business relations. Click on the link to learn more and explore the international possibilities for your business.

International Cross-Border Took Kit and Video

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Lawrence Yun to Speak at Broker Summit on April 23rd

The 12th annual Broker Summit takes place on April 23rd at Ford Field, Detroit. Special guest – NAR Chief Economist and Senior Vice President of Research, Lawrence Yun, will give an economic forecast.

View SCHED and register online
 
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Case Study: Custom Greeting Cards
By Erica Christoffer, REALTOR® Magazine

See how Michigan REALTORS® are incorporating custom greeting cards into their direct-mail marketing campaigns.

Read more

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Legal Lines – Seller Disclosure Act
 
With the help of McClelland & Anderson, we are taking the most recently 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 that is selling their house to their granddaughter. Is the seller exempt from the seller disclosure act?

ANSWER:
YES. Section 3(f) of the seller disclosure act exempts transfers made to a spouse, parent, grandparent, child, or grandchild.

View more frequently asked hotline questions here.

Watch the new MAR Legal Update Video Series. Video #6 Enforcement of Safe Act & MLOLA and Procuring Cause and Commission Disputes

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MAR Edge: Art Van Home Rewards Program

Art Van Home Rewards is a gift from you to your client: $300 in Art Van Gift Cards to use throughout the store or online, in every department, from any line we carry... Courtesy of you. Plus, priority processing for 0% financing with the Art Van Signature Card after their closing.

The Home Rewards Specialists in every Art Van store – our most talented and experienced associates — will work with your clients to furnish their new homes. They will also be your liaison to Art Van for all of your home or office furnishing needs, can host design classes for your associates and clients, or help plan in-store fundraising events for local charities.
 
Learn more

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App of The Week: GroupMe

(Android, IOS)

GroupMe is a great app to communicate quickly with large groups of people. It is much like texting but makes it much smoother across multiple platforms. Teams of agents can use this or committee members working on an event or project.

Get App

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Real Estate Radio Today: Cost vs Value

Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.

Listen Now 

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In this issue:

FEATURED VIDEO
 
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February Government Affairs Vodcast
Watch the February Winter Thaw Edition.
Watch Vodcast

Upcoming MAR Events

Broker Summit
April 23, 2014
Ford Field
Detroit
Register

PAC For The Soo
May 6-7, 2014
Kewadin Casino & Resort
Sault Ste. Marie

Go Grand With Knowledge
August 27-28, 2014
Grand Hotel
Mackinac Island
 
2014 MAR Convention & Expo
October 1-3, 2014
Amway Grand Plaza Hotel & DeVos Place
Grand Rapids
Sponsorship Opportunities

To receive updates on future MAR events, text "mar events" to 25827 to subscribe.*
*Message & data rates may apply.

For more Upcoming Statewide Events, visit the MAR Calendar
 
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Michigan Association of REALTORS
http://www.mirealtors.com/
720 N. Washington Ave
Lansing, MI 48906
USA
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