MI HB5454

Extends principal residence property tax exemption to owners whose homes were damaged or destroyed by accident, act of God, or another person's act without consent, allowing them to retain exemption for the tax year of damage plus 2 succeeding tax years while rebuilding.

Requires owners claiming the extended exemption to continue owning the property, not establish a new principal residence, actively provide for reconstruction, and not occupy, lease, or use the property for business or commercial purposes.

Applies to property damaged or destroyed by events including fire caused by accident, act of God, or act of another person without the owner's consent.

Maintains existing principal residence exemption requirements and procedures for filing affidavits, rescissions, and appeals to the Michigan Tax Tribunal.