The Michigan Senate Banking and Financial Institutions Committee is poised to take up the legislation that would require licensing of Appraisal Management Companies and Registration of Fees. The bills passed the Michigan House of Representatives at the end of March 2012. While these bills are no “silver bullet” for ending our region’s struggles with low appraisals and a flawed valuation process, it is certainly a step in the right direction.
SEMCOG developed a Housing Valuation Quick Facts document that members, like Assessor Tony Fuoco from Lincoln Park, are using to advocate for a better housing appraisal and valuation system – “Great info that hopefully will trigger resolution to our issues,” Tony told us.
SEMCOG sent this letter on behalf of our membership to Michigan’s Senators earlier this month. I encourage you to express your support for these bills; please contact Kevin Vettraino with any current housing appraisal experiences and/or best practices you may be implementing.
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