Once the NEZ status is granted to a property, does the reduction stay in place if the ownership changes?

Asked by Blake, Detroit, MI Tue Sep 2, 2008

I am purchasing a home from foreclosure that appears to have been granted the NEZ status for this tax year. Will this status stay with the home through the ownership change or will it revert to the full tax amount? If the status does not transfer with the ownership change do I have the ability to apply for the status?

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LYNN Afton, Agent, Big Rapids, MI
Tue Sep 2, 2008
It may be transferrable if the new owner meets NEZ requirements, and if taxes have been paid on time for that property. Click link for more info: http://www.michigan.gov/documents/MSHDA_Neighborhood_Enterpr…
Check with the governing tax authority for that neighborhood, for information specific to that property and new ownership NEZ requirements.
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