The website below will estimate the impact on a taxpayer’s annual tax bill if the sinking fund election is successful. Click on the text below and it will open in a new window.

Revised Michigan Homestead Property Tax Credit Summary:

Michigan Homestead Property Tax Credit – Households that pay homestead property taxes greater than 3.2% of their annual income may also be eligible for the Michigan’s Homestead Property Tax Credit.  Eligible households may deduct up to 60% (up to 100% for senior citizens, please see the senior credit table below) of the millage increase cost up to a $1,500 Homestead Tax Credit limit.  The eligibility for the credit begins to decrease after household income exceeds $51,001 and ends completely after the household income exceeds $60,001.  Please see below the general reduction table and senior credit table below: