property taxes: Michigan Lawmakers Get It Right!
- 04/03/12 08:42 AM
The Michigan legislator voted 38-0 on bill 349, which creates another filing period for the homestead exemption. Many home buyers in Canton, Plymouth, and Ann Arbor have been unfairly penalized when they purchased a home from a bank or homeowner who vacated their home. In Michigan, only one home can be taxed at the homestead rate. Once a home is no longer occupied the local cities could raise the property taxes to the non-homestead rates, which in many instances raised their future taxes by 30%. Owners could only file for the homestead rate in May, causing many homeowners to overpay their (0 comments)
This is one of a few questions that I get asked over and over. So, I started to make a list of these often asked questions clients ask me often and am going to start blogging about these questions over the next few weeks. Today I am going to start with this question.
In Michigan we have a two tiered approach to calculation property taxes. If a homeowner is planning on occupying the home as their primary residence, the property will be Homesteaded or taxed (0 comments)