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Bill > SB0292
MI SB0292
MI SB0292Property tax: exemptions; property tax exemption for principal residence of certain senior citizens; provide for. Amends 1893 PA 206 (MCL 211.1 - 211.155) by adding sec. 7yy.
summary
Introduced
05/13/2025
05/13/2025
In Committee
05/13/2025
05/13/2025
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1893 PA 206, entitled"The general property tax act,"(MCL 211.1 to 211.155) by adding section 7yy.
AI Summary
This bill proposes a property tax exemption for senior citizens aged 70 and older, effective for taxes levied after December 31, 2025. To qualify, individuals must own and personally occupy the property as their principal residence, be at least 70 years old, and file a claim with their local assessing unit providing supporting documentation to verify their eligibility. Once initially granted, the exemption will continue as long as the homeowner continuously owns and occupies the property as their principal residence. The bill also includes a provision that the state legislature intends to annually appropriate sufficient funds from the state general fund to compensate local governments for any revenue losses resulting from this tax exemption. By providing this property tax relief, the bill aims to support senior citizens who may be on fixed incomes and help them maintain homeownership by reducing their annual tax burden.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred To Committee On Finance, Insurance, And Consumer Protection (on 05/13/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0292 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/Senate/htm/2025-SIB-0292.htm |
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