![You May Be Entitled to A Refund! [Rule on SEV/Transfer Tax]](https://namirgeorge.com/wp-content/uploads/2016/04/Refund1.jpg)
Last year, Michigan passed an important law. Public Act 217 removed the requirement for the true cash value for those home owners who did not make money on their home in the bad economy.
An old clause from 1993 states that if your SEV (State Equalized Value) has not improved/stayed the same when it comes time to sell your home, you shouldn’t have to pay the $7.50 transfer tax (but, there’s more…)
Nobody paid attention to this until the economy went bad. But, If you’ve paid transfer tax in the past, you may be entitled to a refund!