Budget & Taxes (Property Tax)

Senate Bill 292 proposes a new property tax exemption for certain senior citizens in Michigan, effective for taxes levied after December 31, 2025. It would exempt the principal residence of individuals aged 70 or older from property taxes. To qualify, an individual must own and occupy the property as their primary home and file a claim with their local assessing unit. Once granted, the exemption remains in effect as long as the individual continuously owns and occupies the property. The bill also states the legislature's intent to annually appropriate state funds to compensate local governments for any resulting lost revenue.

HB 4787 would exempt utility companies' replacement electric distribution infrastructure from general property taxes after December 31, 2025, if the infrastructure replaces older systems. To qualify, owners must apply annually by March 1 to local assessors and submit detailed reports by March 31 each year, including location, description of the replaced infrastructure, and safety/reliability improvements. The exemption depends on another bill (HB 4788) being enacted first. This directly affects electric utilities upgrading their aging infrastructure.

SB 423 ends specific programs that helped homeowners pay overdue property taxes and avoid foreclosure. It directly affects property owners with delinquent taxes who previously could use these reduced payment options. The bill modifies existing law by setting expiration dates ("sunsetting") for these programs, meaning they will no longer be available after the specified dates. This change removes temporary relief measures, requiring affected homeowners to pay full delinquent taxes or face standard foreclosure processes.