Application For Residential Homestead Exemption For 2023 In Michigan
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FAQ
The State of Michigan does not currently offer a property tax exemption for senior citizens. However, Senior Citizens are entitled to the Homestead Property Tax Credit.
General Tax Rate4.05% Personal Exemption Amount $5,400 Special Exemption Note: Totally and permanently disabled may not be claimed if the taxpayer was age 66 by June 30, 2023 $3,100 Qualified Disabled Veteran Deduction $400 Exemption for Number of Certificates of Stillbirth from MDHHS $5,400
For single filers and married couples filing separately, the 2023 standard deduction is $13,850 on federal returns. And the standard deduction is $20,800 for head of household, tax filers who are generally unmarried with one or more qualifying dependents.
The personal exemption for tax year 2024 remains at 0, as it was for 2023. This elimination of the personal exemption was a provision in the Tax Cuts and Jobs Act.
The exemption amount is $5,600 per year times the number of personal and dependency exemptions allowed under Part 1 of the Michigan Income Tax Act. An employee may not claim more exemptions on the MI-W4 than can be claimed on the employee's Michigan income tax return.
Public Act 74 of 1995 provides for an exemption to be filed by mail or in person at the July or December Board of Review for the year of the claim, or the following year's July or December Board of Review. To petition the Board of Review you must submit a signed Affidavit for Homestead Exemption (form 2368).
Every person in Michigan is allowed to claim a Homestead on their primary residence which reduces the tax rate by 18 mils per thousand on their tax bill.
