2015 Michigan Homestead Property Tax Credit Claim MI-1040CR. 2015 Michigan Homestead Property Tax Credit Claim MI-1040CR - michigan-2025

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Tax information can be obtained from the Treasurers Office either by parcel number, address, or owner name. Taxpayers can access tax amounts and taxable values to be used in preparing federal and state tax returns by viewing the information online, visiting the Treasurers Office, or by phoning 734-722-2000.
Submit a separate Form 2602 for each exemption being rescinded. Your property number is vital; without it, your township or city cannot adjust your property taxes accurately. Lines 2-4: Enter the complete property address of the exemption you are rescinding. Check the appropriate box for the city or township.
Taxable value- A propertys taxable value is the value used for determining the property owners tax liability. Multiplying the taxable value by the local millage rate will determine your tax liability. Taxable value increases from year to year by the rate of inflation or 5%, whichever is lower.
Your claim must be based on the tax or rent paid on only one home during a 12 month period. The total household resources must be the combined income of both you and your spouse for the entire year. This form can be found at .michigan.gov/taxes.
The Homestead Property Tax Credit helps qualified Michigan homeowners and renters pay for a portion of their property taxes. For the 2024 tax season, this credit is worth up to $1,700. For homeowners, your taxable value must be $154,000 or less.
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Michigans homestead property tax credit is how the State of Michigan can help you pay some of your property taxes if you are a qualified Michigan homeowner or renter and meet the requirements. You should complete the Michigan Homestead Property Tax Credit Claim MI-1040CR to see if you qualify for the credit.
The taxable value is the value on which property taxes are calculated. It can be found on the property tax statement or by contacting your local city/township/village assessors office.
In Michigan, a homes assessed value, in theory, should be approximately 50% of the estimated market value. Local assessors calculate how much your home is worth in the open market by using the comparative sales method to value your home. That number is then divided by two to docHub the assessed value.

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