Types Of Homestead Exemptions In Wayne
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FAQ
If you own a home and use it as your primary place of residence, your home and up to one acre of land could qualify for homestead deductions on your property tax bill.
The exemption offers eligible homeowners the opportunity to shield up to $28,000 of the market value of their homestead (a dwelling and up to one acre of land) from property taxation. For example, if a home is valued at $100,000, the property tax will generally be billed as if the home were valued at $72,000.
Homestead Property Tax Credit You may claim a property tax credit by filing form MI-1040CR. Seniors may claim the homestead property tax credit up to four years from the annual date (April 15) set for filing the claim.
You must be a Michigan resident to claim this exemption. You may claim your Michigan home only if you own and occupy it as your principal residence.
