Property tax: exemptions; exemption for certain remodeling and renovations; provide for. Amends sec. 27 of 1893 PA 206 (MCL 211.27).

This bill updates Michigan's property tax laws to ensure homeowners are not penalized with higher taxes for spending money on normal home repairs and maintenance. It specifically lists common improvements, such as painting, roof repairs, and replacing heating systems, that should be excluded from property value calculations until the home is sold. Additionally, the bill requires assessors to ignore certain costs included in a home's purchase price, such as financing fees and survey expenses, when calculating property taxes. These changes aim to provide clarity and fairness for residential property owners and agricultural landowners by standardizing how specific expenditures are treated during assessments.