2024 Michigan Homestead Property Tax Credit Claim for Veterans and Blind People MI-1040CR-2-2026

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  1. Click ‘Get Form’ to open the 2024 Michigan Homestead Property Tax Credit Claim for Veterans and Blind People MI-1040CR-2 in the editor.
  2. Begin by entering your personal information in Section 1, including your first name, middle initial, last name, and Social Security number. If filing jointly, include your spouse's details as well.
  3. In Section 5, select your filing status by checking the appropriate box. This is crucial for determining eligibility.
  4. Proceed to Section 7 where you will check all applicable boxes regarding your veteran status or disability. Ensure accuracy as this affects your credit eligibility.
  5. Complete Sections 8 through 12 by entering the taxable value allowance, property taxes levied, and calculating the percent of tax relief. Use our platform’s calculation tools for ease.
  6. Fill out the total household resources in Section 13 through 24. Be thorough to ensure all income sources are accounted for.
  7. Finally, review all entries for accuracy before saving or submitting your completed form directly from our platform.

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Michigan Disabled Veteran Homestead Property Tax Exemption: Michigan offers a total property tax exemption of the primary residence that is owned and occupied by an eligible disabled Veterans or their surviving spouse.
Michigans Homestead Property Credit, Form MI-1040CR, is a refundable credit for both homeowners and renters. The Homestead Property Credit is for the taxpayers main residence. Only one home is considered a homestead at a time, and any additional property owned or rented to others is not considered a homestead.
Michigans current homestead exemption of $46,125 ($69,200 for seniors) is just 20% of the states median home value. And Michigan offers no protection for a minimum amount in a bank account or funds derived from the EITC or public benefits.
Homestead Property tax credit For the 2024 tax season, this credit is worth up to $1,800. For homeowners, your taxable value must be $160,700 or less. For both homeowners and renters, your total household resources must be $69,701 or less.
Who Qualifies? You can claim a property tax credit if all the following apply: You are considered a natural person (owner or claimant), and not a living trust, irrevocable trust, or other legal entity, such as a S corporation or LLC, etc. Your homestead is in Michigan (whether you rent or own).

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In 2024, the Homestead Exemption, which takes the form of a credit on property tax bills, allows qualifying homeowners a reduction that is equal to the taxes that would otherwise be charged on up to $28,000 of the market value of their home.
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.

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