2009 Michigan REALTORS® Score Major Legislative Success

June 19, 2009

Source: Frank Mortl, III
Job Title: Chief Executive Officer
Phone: (269) 382-1597
Email: FrankM@gkar.com

The Michigan House of Representatives voted Tuesday, June 16th to prevent retroactive taxation of the real estate industry. If originally proposed legislation had passed, it is estimated that this year commercial rental property owners would have faced an additional tax burden between $50 and $200 million.

"Retroactive taxation of any industry is ridiculously dangerous. Proposals like this will only serve to scare away potential commercial investment that could help stabilize Michigan's economic situation," said Doug Merriam, West Michigan Public Policy Director of the Michigan Association of REALTORS® (MAR).

Since 2004, Governor Granholm and the Treasury Department have been lobbying the legislature to pass various tax schemes on commercial real estate. The latest proposal was relating to the occupancy provision that can be used to develop a more realistic property tax assessment.

"Thanks to the support of RPAC, the membership of MAR and association staff are able to work together every effectively to take unreasonable proposals like this off the table," said Frank L. Mortl, III, CEO of the Greater Kalamazoo Association of REALTORS® (GKAR).

RPAC, the REALTORS® Political Action Committee, advances private property rights and real estate issues at all levels of government.

"Here is a great example of the potential costs of not participating in RPAC. It is clear that all REALTORS® need to join us with a personal investment in RPAC so that we can advocate for our business interests," said Mortl.

To make a contribution, call the GKAR office today at 382-1597 or visit their website at www.gkar.com.

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