playin4beer
Footballguy
Michigan
After living in our house for almost 30 years, we recently (November) had the opportunity to buy my parents house, on a lake. One of the big benefits (or so we thought) of buying my parents house was that the taxes wouldn't get uncapped. They've been in their house for almost 20 years and our taxes were pretty close to the same. Fast forward to this week and our tax assessment comes in and our taxable value went thru the roof. I called on it and because me AND my wife are on the deed, they can uncap 50%. They said for it to stay capped, it would have had to be just in my name. And then I could have added her to it without it being uncapped because she's my wife. But it can't go from my parents to "us". Anybody have any insight on this?? Is it possible to have a "corrected deed" done in just my name? or has that ship sailed?
After living in our house for almost 30 years, we recently (November) had the opportunity to buy my parents house, on a lake. One of the big benefits (or so we thought) of buying my parents house was that the taxes wouldn't get uncapped. They've been in their house for almost 20 years and our taxes were pretty close to the same. Fast forward to this week and our tax assessment comes in and our taxable value went thru the roof. I called on it and because me AND my wife are on the deed, they can uncap 50%. They said for it to stay capped, it would have had to be just in my name. And then I could have added her to it without it being uncapped because she's my wife. But it can't go from my parents to "us". Anybody have any insight on this?? Is it possible to have a "corrected deed" done in just my name? or has that ship sailed?
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