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MI HB4088
Bill
Status
2/18/2025
Primary Sponsor
Bradley Slagh
Click for details
AI Summary
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Increases the taxable value cap for homestead property tax credit eligibility from $135,000 to $196,500 beginning with the 2025 tax year
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Changes the annual adjustment factor for the taxable value cap from the U.S. Consumer Price Index to the U.S. House Price Index starting in 2026
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Maintains the minimum total household resources threshold at $51,000 for the 2018 tax year and beyond, with annual Consumer Price Index adjustments continuing from 2021
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Preserves the maximum property tax credit at $1,500 per year (established in 2018), with ongoing Consumer Price Index adjustments from 2021
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Retains the 10% credit reduction for each $1,000 of total household resources exceeding the minimum threshold amount
Legislative Description
Individual income tax: property tax credit; taxable value cap on homestead eligibility for credit; increase and modify adjustment factor. Amends sec. 520 of 1967 PA 281 (MCL 206.520).
Individual income tax: property tax credit
Last Action
Referred To Second Reading
10/28/2025