homestead property tax credit – more or less

Less for some, more for others !

…set a household income cap of $50,000 for claiming the credit, down from $82,650 currently and $70,000 under the original plan Gov. Rick Snyder presented Feb. 17…

Those with household incomes of $20,000 or less will be eligible for 100 percent tax credits, compared with 60 percent currently and 80 percent under Snyder’s February proposal, which was revenue-neutral.

“What we’re trying to do is beef up the support to moderate- and low-income families,” said Lt. Gov. Brian Calley, Snyder’s point man on tax issues.

Dave Maluchnik, a spokesman for the Michigan Catholic Conference, which advocates for the poor, called the shift “a step in the right direction.”

more from this story

Additional related links:

http://www.taxfoundation.org/news/show/27104.html

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