Excluding social security payments from household income and increasing the household income and appraised value thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead claims.
Providing an additional personal exemption for head of household tax filers and increasing the personal exemption for certain disabled veterans for purposes of income tax, modifying the definition of household income and increasing the household income and the appraised value thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead refund claims.
Individual income tax: property tax credit; taxable value cap on homestead eligibility for credit; increase and modify adjustment factor. Amends sec. 520 of 1967 PA 281 (MCL 206.520).