Michigan SB1044 modifies the definition of homestead for property tax credit purposes.

Michigan SB1044 amends the definition of homestead for property tax credit purposes. It specifies that a homestead includes a dwelling or unit in a multiple-unit dwelling owned and occupied by the owner or renter. It also includes up to 5 acres of adjacent and contiguous agricultural or horticultural land if the owner has lived on the land for less than 10 years. The bill further defines "household" and "total household resources" for tax purposes. It also modifies the definition of "gross rent" and allows for adjustments if the rent is deemed excessive.

Michigan SB1044 modifies the definition of homestead for property tax credit purposes.

Michigan SB1044 amends the definition of homestead for property tax credit purposes. It specifies that a homestead includes a dwelling or unit in a multiple-unit dwelling owned and occupied by the owner or renter. It also includes up to 5 acres of adjacent and contiguous agricultural or horticultural land if the owner has lived on the land for less than 10 years. The bill further defines "household" and "total household resources" for tax purposes. It also modifies the definition of "gross rent" and allows for adjustments if the rent is deemed excessive.