MI HB4446

Changes principal residence exemption filing deadline from May 1 to June 1 for summer tax levies and November 1 for winter tax levies, effective for taxes levied after December 31, 2011

Allows foreclosed properties (held by lenders, banks, or land contract vendors) to retain the same exemption percentage as the previous owner for up to 3 years if property is not occupied, is for sale, and is not leased or used commercially

Requires lenders retaining exemptions on foreclosed properties to pay an amount equal to what would have been owed without exemption plus an administration fee, with revenues going to the state school aid fund

Establishes procedures for exemption denial and appeals to the Michigan Tax Tribunal, with interest distributed to local units, county, or state treasury depending on which entity denies the claim

Adds exemption provisions for bed and breakfast operations and cooperative housing corporations, with proportional exemption calculations based on residential versus commercial square footage