HB 4372
Taxation: specific tax; specific tax on certain property of senior citizens; provide for. Creates new act. TIE BAR WITH: HB 4379'25
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a new tax specifically for senior citizens' principal residences in Michigan. While certain property owned by senior citizens (age 65 or older who occupy the property as their primary residence) is exempt from general property taxes, a 50% specific tax, called the ‘Senior Citizens Principal Residence Specific Tax,’ will be levied on the remaining taxable value of that property. The tax revenue will be distributed to various local taxing units in the same proportions as general property taxes.
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Primary sponsor
James DeSana
Cosponsors
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