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Michigan Investors: File your Gast Act

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It was hot news in 1976, but today who knows about Michigan’s Mathieu-Gast Act?

If you’ve ever put a considerable amount of capital into rental maintenance in a single year, this is worth checking out. As long as a simple form is filed by the end of the year in which the work was completed, the typical increase on property taxes through an increase in Assessed Value can be halted until the next time the home is sold.

The Mathieu-Gast Home Improvement Act of 1976 was co-sponsored by state Sen. Harry Gast, R-St. Joseph, and state Rep. Thomas Mathieu around the concept that homeowners and landlords should not be penalized with higher taxes for making home improvements that benefit the community around them.

Certain stipulations do exist; for example, work conducted without necessary permits does not qualify. The Mathieu-Gast Act only applies to “normal maintenance.” According to Michigan.gov Bulletin 7 of 2014, the following repairs are considered “normal maintenance” if they are not part of a structural addition or completion:

(a) Outside painting.
(b) Repairing or replacing siding, roof, porches, steps, sidewalks, or drives.
(c) Repainting, repairing, or replacing existing masonry.
(d) Replacing awnings.
(e) Adding or replacing gutters and downspouts.
(f) Replacing storm windows or doors.
(g) Insulating or weather stripping.
(h) Complete rewiring.
(i) Replacing plumbing and light fixtures.
(j) Replacing a furnace with a new furnace of the same type or replacing an oil or gas burner.
(k) Repairing plaster, inside painting, or other redecorating.
(l) New ceiling, wall, or floor surfacing.
(m) Removing partitions to enlarge rooms.
(n) Replacing an automatic hot water heater.
(o) Replacing dated interior woodwork.

The Michigan.gov form complete with instructions & guidelines for filing are hosted HERE.

– Pete Bruinsma, Broker, Grand River Realty & Life Cycle Property Management

 

sources: Harold-Palladium, John Dobberstein, Jun 26, 1999, RPOAonline.org, GRcity.us

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2018 Year-End Grand Rapids Home Trends and Statistics

Images Courtesy of the Greater Regional Alliance of Realtors (GRAR)

Images Courtesy of the Greater Regional Alliance of Realtors (GRAR)

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[Sold] Classic Eastown Craftsman

This classic Eastown Craftsman was snapped up a couple of days before hitting the market. Savvy move and wonderful purchase. Congrats Pat and Kristi!

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Grand Rapids Michigan

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[New Farm Listing 1 of 3] 6527 Quincy Street, Zeeland, MI 49464 – $174,900

[1 of 3 Zeeland farm parcels for sale]

7 Acres
Groundswell Community Farm is selling this parcel plus the business, and all equipment. This is an incredible opportunity to get into small scale farming. See exhibits A and B for more details and the list of equipment. If you have ever dreamed of farming, here is your chance to make that dream come true.

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[Sold] 6275 Polk Street, Hudsonville, MI 49426 – $119,900

10 Acres
Currently being farmed organically by Groundswell Community farm, this parcel has lots of potential. There is a functioning well, a hoophouse frame, and some farm equipment to get started on your dreams. 25 minutes from Grand Rapids, and 15 minutes from Zeeland means you are close to everything, but you still have plenty of privacy.

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[Sold] 7144 Ransom Street, Zeeland, MI 49464 – $139,900

Just around the corner from the two farms listed above.
Adorable and well maintained home only 15 minutes from Holland MI, and 30 minutes from Grand Rapids MI. Rural feel, with convenient access to nearby shops and restaurants.

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[For Sale] Mid-Century Bass lake cottage with prime sandy Frontage – $180k

Adorable 3 season cottage on Bass Lake with gorgeous views! It is easy to imagine relaxing on the deck of this unique property 40 minutes north of Grand Rapids. You must see the view! Also includes 13740 Beach St NE, 41-04-12-305-004

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[Sold] 3287 34th St – 1900 sqft Grandville ranch, $169,900

This lovely Grandville, MI 4 bedroom 1,980 sqft ranch-style home is tastefully updated, affordable, and conveniently located. Owners enjoy the restored oak floors, memory foam carpet, fresh paint, new appliances, and peaceful fenced yard with patio. Buck Creek Trail at the end of the street is plowed year round and connects with downtown Grandville, Kent Trails, and Wedgwood Park. To the east, a short walk to the Calvin campus, and a 5 minute drive south to Rivertown Mall. With low property taxes, maintenance-free features and numerous updates, future owners will enjoy their new home for its convenience, affordability and charm.

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[Sold] Rare Michigan Oaks Condo $139,900

This is a rare opportunity in the desirable Michigan Oaks neighborhood, an affordable condo with ultra-convenient location in a beautiful wooded setting. Plentiful windows allow natural light to illuminate the freshly cleaned and painted large open living spaces. Due to a unique lot layout there are four points of entry. Guests use the main front entrance or follow their noses to the grilling station off the screened-in back porch. Dodge the weather with attached garage entry, or walk out to the basement patio with new retaining wall. Owner-curated flower gardens are permitted as are pets with association approval. Ideal central location equally convenient to downtown Grand Rapids (9 min), Knapp’s Corner (5 min) and Centerpointe and Eastbrook Malls (10 min). See for yourself, visit today!

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