Property tax: exemptions; exemption from state education tax for certain residential property and certain agricultural property; provide for. Amends secs. 2 & 3 of 1993 PA 331 (MCL 211.902 & 211.903).

House Bill 4373 proposes to amend the State Education Tax Act by creating new property tax exemptions. Beginning in 2026, the bill would exempt residential real property from the state education tax. It would also exempt certain qualified agricultural property that includes a single-family dwelling, provided the owner actively uses the land for agriculture and has not claimed a principal residence exemption on other property. This change directly affects owners of qualifying residential and agricultural properties by removing their obligation to pay the state education tax.