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MI HB4844
Bill
Status
7/12/2017
Primary Sponsor
Brandt Iden
Click for details
AI Summary
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Removes the scheduled increase of the homestead taxable value cap from $135,000 to an indexed amount starting in 2021, instead freezing the cap at $135,000 through the 2017 tax year and beyond.
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Eliminates automatic annual adjustments to the taxable value cap that would have been based on the consumer price index beginning in 2021.
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Maintains homestead property tax credit eligibility restrictions for owners whose taxable value exceeds $135,000, excluding unoccupied agricultural portions of property.
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Preserves all other property tax credit provisions including renter/lessee credits, income-based reductions, and maximum credit amounts with their own separate indexing provisions.
Legislative Description
Individual income tax; property tax credit; eligibility based on a homestead taxable value cap; remove. Amends sec. 520 of 1967 PA 281 (MCL 206.520).
Individual income tax: property tax credit
Last Action
Bill Electronically Reproduced 07/12/2017
8/16/2017