MI HB4362

Amends the disabled veteran homestead property tax exemption under the General Property Tax Act to clarify that the Armed Forces discharge requirement uses proper capitalization.

Establishes that beginning January 1, 2018, the state shall reimburse local taxing units for tax revenue lost due to disabled veteran homestead exemptions, instead of requiring local units to bear the full loss.

Expands exemption eligibility to include unremarried surviving spouses of disabled veterans who die before or after the exemption is granted, allowing the exemption to continue as long as the spouse remains unmarried.

Defines "disabled veteran" as a Michigan resident meeting one of three criteria: permanently and totally disabled per U.S. Department of Veterans Affairs at 100% rate, receiving pecuniary assistance for specially adapted housing, or rated as individually unemployable by the Department of Veterans Affairs.

Requires property owners to file an affidavit with the local assessing officer during the tax year period through final adjournment of the local board of review to obtain the exemption.