SB345 — Individual income tax: property tax credit; homestead property tax credit; increase, and modify income threshold. Amends secs. 504 & 520 of 1967 PA 281 (MCL 206.504 & 206.520). TIE BAR WITH: SB 344'25

SB345 — Individual income tax: property tax credit; homestead property tax credit; increase, and modify income threshold. Amends secs. 504 & 520 of 1967 PA 281 (MCL 206.504 & 206.520). TIE BAR WITH: SB 344'25 · Informed CitizenryThis bill amends the Income Tax Act of 1967 to modify the homestead property tax credit. It increases the homestead taxable value cap from $135,000 to $160,700 for the 2024 tax year, with subsequen…Open in Informed Citizenry