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SB 345

Individual income tax: property tax credit; homestead property tax credit; increase, and modify income threshold. Amends secs. 504 & 520 of 1967 PA 281 (MCL 206.504 & 206.520). TIE BAR WITH: SB 344'25

2025-2026 Regular Session Introduced by Sarah Anthony and 10 co-sponsors

Michigan bill expands homestead and property tax credits, increases benefit amounts, and raises income eligibility thresholds to provide broader tax relief to homeowners.

REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
#individualincometax:propertytaxcredit
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WeVote Research Nonpartisan
Bill Summary · SB 345

Legislative bill overview

SB 345 modifies Michigan's property tax credit and homestead property tax credit programs by increasing the credit amounts and raising the income thresholds that determine eligibility. The bill is tied to SB 344, indicating the two measures are interdependent and likely part of a coordinated tax relief package.

Why is this important

Property tax credits directly reduce the tax burden on homeowners and renters, affecting household budgets and housing affordability. Raising income thresholds expands who qualifies for these credits, potentially providing relief to more middle-class households. These changes could influence state revenue, local government funding (which relies on property tax), and overall tax competitiveness.

Potential points of contention

  • Revenue impact: Expanding credits and raising thresholds reduces state tax revenue; funding sources or budget cuts may be required
  • Local government effects: Property tax credit increases are state-funded, potentially shifting costs away from property taxes and affecting municipal/school funding stability
  • Income threshold specifics: The bill's exact threshold amounts are not detailed here, making it unclear whether benefits flow primarily to middle-income or higher-income households
  • Tie-bar dependency: The bill's success depends on passage of SB 344; the full policy intent cannot be evaluated without analyzing both bills together

Compiled from official sources — confirm details with the bill’s official record.

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