Tax Calculator

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The increase in taxes could potentially be offset by the Michigan Homestead Property Tax Credit.  Below is a summary of the revised Michigan Homestead Property Tax Credit:

Michigan Homestead Property Tax Credit – Households that pay homestead property taxes greater than 3.2% of their annual income may be eligible for 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:

General Credit Reduction Senior Credit
Resources% of credit Resources% Credit
$51,000100.00% $21,000100%
$51,00190.00% $21,00196%
$52,00180.00% $22,00192%
$53,00170.00% $23,00188%
$54,00160.00% $24,00184%
$55,00150.00% $25,00180%
$56,00140.00% $26,00176%
$57,00130.00% $27,00172%
$58,00120.00% $28,00168%
$59,00110.00% $29,00164%
$60,0010.00% $30,00160%