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Who qualifies for the homestead property tax credit?
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Working families and individuals with a household income of ,000 or less a year may be eligible for a Homestead Property Tax Credit, according to the Michigan Department of Treasury. Michigan's Homestead Property Tax Credit can help taxpayers if they are a qualified homeowner or renter and meet certain requirements.
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- You own or were contracted to pay rent and occupied a Michigan homestead for at least 6 months during the year on which property taxes and/or service fees were levied.
- If you own your home, your taxable value was ,000 or less.
- Your total household resources were ,000 or less.
Additionally, what qualifies for homestead exemption? The Homestead Exemption is a complete exemption of taxes on the first ,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.
Furthermore, who qualifies for Michigan Homestead Property Tax Credit?
Working families and individuals with a household income of ,000 or less a year may be eligible for a Homestead Property Tax Credit, according to the Michigan Department of Treasury. Michigans Homestead Property Tax Credit can help taxpayers if they are a qualified homeowner or renter and meet certain requirements.
Do I qualify for a property tax refund?
Renters: Your total household income (including a subtraction for dependents or if you are age 65 or older) for 2019 must be less than ,340. The maximum refund is ,190. You must have lived in a building in which property taxes were assessed or you made payments to a local government instead of property taxes.
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