Homestead Property Tax Credit available to homeowners
The tax credit is available to working individuals and families with household resources of $60,000 or less.
Mich. (WLUC) - Homeowners and renters in need of financial help may be in luck thanks to a tax credit.
The Homestead Property Tax Credit is available to working individuals and families with household resources of $60,000 or less per year. Those eligible must own a homestead in the state and must have lived in Michigan for at least six months of the year.
Michigan Treasury Department spokesperson Ron Leix encourages homeowners to talk with their tax preparer to see if they can take advantage of this credit.
“With the COVID-19 pandemic occurring right now, every little dollar helps,” Leix said. “All these credits can help put a little bit of income in a person’s pocket that may not have been available. If you qualify for these tax credits, make sure you get them.”
For homeowners to be eligible, their taxable value must be $135,000 or less.
Those required to file a state income tax return should claim the Homestead Property Tax Credit with that return. Otherwise, taxpayers can file the tax credit by itself.
For more information, visit michigan.gov/incometax.
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