Michigan homeowners need to be aware of the law that exists to provide tax savings to anyone who has a home for sale but has purchased another home. You can claim both properties as your Principle Residence and receive Homestead millage. This law went into effect for homeowners in 2008, as relief for Michigan home sellers who have moved and have not been able to sell their home in Michigan. The law is called PA 96 of 2008, and it is a HUGE tax break for people in Michigan that expands the Principal Residence Exemption on unsold homes. If you live in Michigan, and own a home you … (1 comments)
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