In order to receive the Homestead Property Tax Credit, all of the following must apply:
- Your homestead (the place where you have your permanent home, the place you plan to return to whenever you go away) is in Michigan.
- You were a resident of Michigan for at least 6 months during the year.
- You pay property taxes or rent on your Michigan homestead.
- You were contracted to pay rent or you own the Michigan homestead you live in.
- Your household resources are less than $50,000.
- Your homestead's taxable value is below $135,000.