Bill > HB6090

This bill provides a partial property tax exemption for certain senior citizens in Michigan. The exemption applies to real property used as an individual's primary residence if the owner is at least 63 years old and has continuously used the property as their primary residence for at least 10 years, or has continuously used the property as their primary residence for at least 30 years. The exemption amount is the current taxable value of the primary residence minus a "base amount" that is calculated based on the taxable value in the first year the exemption is claimed. The bill also sets an income limit of $40,000 per year for the individual and their household to qualify for the exemption. The Michigan Department of Treasury is required to promulgate rules to implement this new property tax exemption.