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Michigan Homestead Property Tax Credit Claim MI 1040CR  Form

Michigan Homestead Property Tax Credit Claim MI 1040CR Form

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hi this is Stephanie Johnston with the Johnston team of service first mortgage the first off happy new year we are already to 2018 how exciting and I just wanted to reach out and send y'all some information of reminders about your homestead exemption and some things you got to do now that we have moved into 2018 so if you purchased your home owner-occupied or you're now living in the home as your owner occupied residence and you bought the home on December 31st 2017 or prior you'll be able to file with the county for your homestead exemption this is important for a couple reasons it's gonna be able to give you a discount on the property taxes paid as well as there's what's called a homestead cap so once you have a homestead on your property for two years in a row the county cannot raise your value of your the value that they tax you on more than 10% a year so again owner-occupied for two years so if you bought your home in 17 you need to have it 18 and then 2019 once you get past that

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