It depends. From the 2019 MI-1040CR Instructions page 1, unemployment is included in total household resources with the maximum allowed of $60,000. The taxable value of the property per the tax assessor cannot be more than $135,000.
Yes, you are correct, the student loan interest and the medical insurance portion of your auto insurance policy do reduce the total household resources.
Life, health, and accident insurance premiums paid by your employer must be added into total household resources while premiums you paid yourself can be subtracted.
Please see the Checklist for Determining the Total Household Resources for the Michigan Homestead Property Tax.
