Michigan Panel OKs Tax Cut For Homeowners, Renters - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Michigan Panel OKs Tax Cut For Homeowners, Renters

Posted: Updated:

LANSING, Mich. (AP) - A tax-writing committee in Lansing has voted to make more Michigan homeowners and renters eligible for a tax credit.

The Senate Finance Committee on Wednesday unanimously approved legislation to make households earning under roughly $83,000 a year eligible for the Homestead Property Tax Credit. That's where the threshold was before lawmakers in 2011 lowered it as part of a business tax cut.

Now households earning under $50,000 qualify.

The vote follows Gov. Rick Snyder's call last week to raise the threshold to $60,000 and change a calculation for those already qualifying to return part of a budget surplus to low- to moderate-income households. The bill could help 360,000 tax filers now ineligible for the tax relief.

Also Wednesday, a House committee debated Republican-backed bills to lower the income tax rate.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WLNS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.

Click Here to link to the FCC's public inspection file for WLNS-TV and Here to view the WLAJ-TV file. Persons with Disabilities who need assistance with issues relating to the content of this station's FCC public inspection file should contact: Teresa Morton- Program Director for WLNS and WLAJ at 517-372-8282. Questions or concerns relating to the accessibility of the FCC's public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or fccinfo@fcc.gov.