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Deductions & credits
Yes, you are correct. That is an important third layer. There are additional steps for the Michigan Homestead Property Tax Credit MI-1040CR after the 3.2% for senior claimants and for disabled claimants, as well.
Step 1: The taxable value of the home is $135,000 or less
Step 2: The total household resources is less than $60,000.
Step 3: Using the table below, the Homestead Property Tax Credit is limited by a certain percentage.
March 28, 2020
3:22 PM