June 2019

An informative e-newsletter for the Real Property Law Section of the State Bar of Michigan.

Neighborhood Enterprise Zone Residential Tax Exemptions


By Glen Zatz, Bodman PLC

The Neighborhood Enterprise Zone (“NEZ”) Act, PA 147 of 1992, provides property tax exemptions for the development and rehabilitation of residential housing located within eligible distressed communities. The City of Detroit created fifty-two NEZ homestead districts between 2006 and 2008. The fifteen-year abatements in these districts (with an average $400 tax savings in 2018) are set to phase out in the next few years. The City recently announced that residents may apply for new certificates and is sending out letters describing the program to 2,800 residents with expiring certificates and to 1,842 eligible homeowners in NEZ homestead districts who have not yet applied for a certificate.

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Qualified Opportunity Zone Updates

Downtown Detroit

By Scott Kocienski, Dykema Gossett PLLC

On April 17, 2019, the U.S. Department of Treasury and the IRS issued the long-awaited second tranche of proposed regulations relating to investments in Qualified Opportunity Zones (“QOZ”) and Qualified Opportunity Funds (“QOF”). The proposed regulations are intended to address a number of questions left unanswered following the issuance of the initial proposed regulations in October 2018, which kept many investors, developers and fund managers on the sidelines.

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Legislative Report

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Sponsored by the Real Property Law Section of the State Bar of Michigan


Grand Rapids

J.W. Marriott
235 Louis Street NW, Grand Rapids, MI 
September 20-21, 2022
9:00 a.m.–4:00 p.m.

Metro Detroit - Troy

Michigan State University-Management Education Center
811 W. Square Lake Rd., Troy
May 10-11, 2023
9:00 a.m.-4:30 p.m.

Real Property Law Academy II is the continuation of a program being taught by some of the most respected and experienced Michigan real estate attorneys, each an expert in their field. The overall program (Academy I and Academy II) is designed to provide a basic understanding of the most fundamental aspects of a real estate practice. It is targeted not only for real estate attorneys, but also for other attorneys who will encounter real estate issues from time to time. The program is presented in two parts: Academy I, which recently concluded, and Academy II. Each part presents eight topics over a consecutive two-day period.

Attendance at Academy I is not a prerequisite for attending Academy II, though it is highly recommended that you attend both Academy I and Academy II to get the full benefits from the program.

Registration for Academy I materials and a link to the recorded virtual program coming soon.

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Write an Article

Interested in writing an article for the e-Newsletter? Contact co-editors Glen Zatz gzatz@bodmanlaw.com, Samuel Kilberg at SKilberg@dykema.com, or Pat Paruch pat.paruch50@gmail.com.

Can't remember where you saw that e-Newsletter article? Check the e-Newsletter article index.

The views and opinions expressed in these articles are those of the authors, and they do not reflect in any way the positions of the State Bar of Michigan or the Real Property Law Section. These columns are meant for informational purposes only and should not be construed as legal advice. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding tax-related penalties or (ii) promoting, marketing, or recommending to another person any transaction or matter addressed in this communication.