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The original item was published from 3/27/2018 3:04:00 PM to 3/27/2018 3:06:11 PM.

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Treasurer - News

Posted on: March 8, 2018

[ARCHIVED] ATTENTION: Homebuyers, Title Companies, & Realtors

Michigan law requires a penalty fee if you don't file your Property Transfer Affidavit (PTA) within 45 days of buying a new home (MCL 211.27a(10)). 

 

The State of Michigan Department of Treasury now requires active enforcement of penalties for non-timely filing of a PTA.  The fine is $5/day up to $200 for a home, and commercial properties have higher fees.

 

The City and Township assessors have been directed as part of their continued certification to charge the statutory penalty for PTAs not received within 45 days of closing on the property sale.  Therefore, every Assessor in the County will begin charging this penalty fee effective immediately.

 

Section 211.27a(10): "...the buyer, grantee, or other transferee of the property shall notify the appropriate assessing office in the local unit of government in which the property is located of the transfer of ownership of the property within 45 days of the transfer of ownership, on a form prescribed by the state tax commission..."

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