With lower property values due to our struggling economy, many homeowners have been able to take advantage of an exemption contained in the Michigan Transfer Tax Act.  If you meet the criteria, you may be exempt from paying the state transfer tax (which is $3.75 for each $500 increment of sales price).  As always, you should contact your tax advisor and/or CPA for more.

Review the following to see if you may be exempt in an upcoming sale, and/or you may be due a refund from a previous sale: