Yesterday, Jennifer Granholm signed a bill allowing two homestead exemptions for homeowners who have already moved into a new home and their previous home is currently listed for sale.
This is a huge benefit for owners of these vacant homes that have not yet sold. Normally, these properties would be taxed at the non-homestead rate witch is about 20 mils higher than those with the homestead exemption.
Requirements: Home cannot be rented, it must be vacant, it must have been used as primary residence.
If you have a home that may qualify, I urge you to check with your city or township office before April 30th. After May 1st, it may be too late to change the tax status for 2008 taxes coming this July.
Ray Spitler, GRI,e-pro
Keller Williams Realty- Saginaw, Midland, Bay City Michigan