SB 0345
Individual income tax: property tax credit; homestead property tax credit; increase, and modify income threshold. Amends secs. 504 & 520 of 1967 PA 281 (MCL 206.504 & 206.520). TIE BAR WITH: SB 344'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill increases and modifies the property tax credit available to Michigan residents. It raises the income threshold for eligibility, adjusts the taxable value cap for homesteads based on the Consumer Price Index, and expands the credit to include renters and lessees of homesteads. The bill also incorporates adjustments for household resources and provides specific rules for senior citizens receiving rental assistance.
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Primary sponsor
Cosponsors
Edward W. McBroom
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