Homestead Exemption Basics
Homestead Exemption A homestead exemption is a law that helps protect a person’s home from being taken away to pay off debts. It also means a person might not have to pay as much in property taxes, and their home can stay protected if their husband or wife passes away. The idea behind this law […]
Has The Michigan Homestead Exemption Changed?
Homestead Exemption Changes Michigan passed House Bill 4901 (HB-4901) to modernize bankruptcy exemptions, increasing limits for homesteads, motor vehicles, and tools of the trade while adding protections. The 2023 Homestead Property Tax Credit (HPTC) raised eligibility limits, credit amounts, and taxable value thresholds, offering residents greater financial relief. Passage of Michigan Bankruptcy Exemption Bill HB-4901 […]