Taxable Value of Homestead?

[givemetaxrelief]

My mother lives in a Home For the Aged.  Essentially she rents her apartment unit.  The Home facility paid her property tax by a pro rata method based on the Total Home's Taxable Value of Homestead.  They divided that number by the square footage of her apartment into the Total Facility Homestead Amount  to come up with the amount of tax the Home paid on behalf of my mother.

But how do I get my mother's apartment unit (only) Taxable Value of Homestead amount?

My mother lives in Michigan 

Thanks in advance.

[MaryK4]

The taxable value is the value on which property taxes are calculated. It can be found on the property tax statement or by contacting your city/township/village/county assessor's office or on their website.  You actually may also be able to contact the facility, since they provided the tax amount, they must have the value to determine it- or if you have the tax rate, you could calculate it.

[givemetaxrelief]

I understand the definition 

individual renters don’t get a statement from the assessor. 
Had to go to BSA online to look up housing complex taxable value and the amount of tax paid by the complex. 
Then calculate the taxable value for my mother’s apartment based on the tax paid on behalf for her by the complex and the square footage size of her apartment. 

what a pain to go through all this. 

would be nice if TurboTax gave instructions like I had to figure out by talking with an accountant. 

[JillS56]

In Michigan, you do not need to go through all of that to determine homestead credit.   Does your mother live in an assisted living complex or is she in an apartment?    If in an assisted living complex, the complex should give her a statement as to what her portion of the taxes are for the year.   You should go to the office of the complex and ask about the letter.

If she is in an apartment there is an option to collect the homestead credit based on rent.   You would need to know the name of the landlord or complex and the address where the rent payments are made and the monthly rent amount and how many months she lived at that address.   It will calculate a homestead credit based on the rent she pays.

[givemetaxrelief]

I understand what you are saying, but my mother lives in an assisted living facility where she actually pays a monthly rent.  Here facility only gives her a statement of what her portion of State Tax they paid on her behalf and the square footage of her apartment.

Her facility is unique where residents buy in to enter the facility, then pay a monthly rent, but if they leave or pass away the money they bought in with (less 10%) is returned to them or to their estate. 

Turbo Tax ask for the Tax Value of the Homestead.  It does not calculate that out despite have all the other information.  There fore I had to go through all the hoops to find the Tax Value of my mother's homestead buy researching BSA online and doing the calculations.

[KrisD15]

I suggest you double check with the facility. 

If your mother is supplied with a copy of her portion of the property tax paid, I assume she is an owner. 

If she is an owner, is what you call rent really some sort of charge for care?

If the charge is for medical care, that expense MIGHT be deductible.

Please see the link below for more information:

IRS LINK

[givemetaxrelief]

Technically she is not an owner.  She pays rent per month and the only thing she gets are meals and utilities payments are supplied by the facility.  Like I said this is a unique facility.  The money she used to "buy" into the facility apartment is returned to her if she leaves or goes to her estate when she passes away. 

Anyway I have figured out her Tax Value of her Homestead on her apartment.