Modifies property tax exemptions for poverty-level residents in Michigan.

This bill amends the Michigan property tax law to modify the poverty exemption for principal residences. It allows for a full or partial exemption from property taxes for those who meet certain income and asset criteria. The exemption can be rescinded if the property owner fails to meet the eligibility requirements. The bill also outlines the process for applying for the exemption, including the need to file a claim with the board of review and provide supporting documentation. The local assessing unit must make the guidelines for granting exemptions publicly available.

Modifies property tax exemptions for poverty-level residents in Michigan.

This bill amends the Michigan property tax law to modify the poverty exemption for principal residences. It allows for a full or partial exemption from property taxes for those who meet certain income and asset criteria. The exemption can be rescinded if the property owner fails to meet the eligibility requirements. The bill also outlines the process for applying for the exemption, including the need to file a claim with the board of review and provide supporting documentation. The local assessing unit must make the guidelines for granting exemptions publicly available.