MI HB6090

Creates a property tax exemption for primary residences owned by individuals meeting age and residency requirements, effective for taxes levied after December 31, 2021

Grants exemption to owners age 63+ who continuously occupied the property as primary residence for at least 10 years, or anyone who continuously occupied for at least 30 years

Limits exemption eligibility to households with total gross income not exceeding $40,000 annually

Exemption amount equals the current taxable value minus a "base amount" (taxable value in first qualifying year, adjusted for losses and additions)

Restricts exemption to one primary residence per married couple and requires the Department of Treasury to promulgate implementation rules