MI HB5178

Allows principal residences of persons unable to contribute to public charges due to poverty to be exempted wholly or in part from taxation, excluding corporate property.

Requires annual exemption applicants to own and occupy the property as a principal residence, submit federal and state income tax returns or affidavits from the preceding or current year, and provide valid identification and proof of ownership if requested.

Establishes that applicants must meet federal poverty guidelines updated annually by the U.S. Department of Health and Human Services, or alternative guidelines adopted locally that are no less restrictive than federal guidelines.

Requires local assessing units to publicly disclose their exemption policies and guidelines including specific income, asset, and household income thresholds, with the board of review following these guidelines unless substantial and compelling reasons for deviation are documented in writing to the claimant.

Permits claimants to simultaneously file a poverty exemption claim and appeal the property assessment before the board of review in the same year, with applications due after January 1 but before the day prior to the last day of the board of review.