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Pursuant to MCL 211.7u, eligible low-income homeowners may apply for an exemption from property taxes. An eligible person must own and occupy his/her home as a principal residence (homestead) and meet poverty income standards.
This form can be found at .michigan.gov/taxes. Submit Form 5049 with Form MI-1040CR, MI-1040CR-2 or MI-1040CR-7 if any of the following situations apply to you: You filed as married filing separately, and you and your spouse maintained separate homesteads all year.
Homestead exemptions primarily work by reducing your home value in the eyes of the tax assessor. So if you qualify for a $50,000 exemption and your home is worth $200,000, then you will be taxed as if your home is worth only $150,000.
Contact the Community Action Agency in your county: , to ask if you qualify for any assistance.
2021 Michigan Homestead Property Tax Credit Claim MI-1040CR.
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Who qualifies for a homestead property tax credit? You may qualify for a property tax credit if all of the following apply: You own or were contracted to pay rent and occupied a Michigan homestead for at least 6 months during the year on which property taxes and/or service fees were levied.
You may qualify for a property tax credit if all of the following apply: You own or were contracted to pay rent and occupied a Michigan homestead for at least 6 months during the year on which property taxes and/or service fees were levied.
You may claim a property tax credit if all of the following apply: Your homestead is located in Michigan. You were a Michigan resident at least 6 months during a calendar year. You pay property taxes or rent on your Michigan homestead.
Your total household resources were $63,000 or less (part year residents must annualize total household resources to determine if a credit reduction applies)
Seniors are entitled to a homestead property tax credit equal to up to 100% of the amount their property taxes exceed 3.5% of their income, up to $1,200.

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