State
Michigan
Year
2019
Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Benefit Type
Deferral
Benefit
The benefit defers special assessments. The minimum deferral, exclusive of interest, is $300. Deferred taxes accrue interest at the rate of 1/2 percent per month (6 percent per year). Taxes are due one year from the date of the death of the last homeowner. Deferment of taxes through this program will result in a lien being placed against the property in the amount of the deferred taxes plus interest. Applications must be filed at least 30 days after the due date of a special assessment or installment of a special assessment for which deferment is requested.
How is Benefit Disbursed
Other
Eligible Property Type
Residential
Characteristics of Eligible Property
Only residential property is eligible for this program.
Eligibility Criteria
Age
Disability
Homeowner
Income Ceiling
Other Criteria
Description of Eligibility Criteria
The individual must be 65 years or older or be totally or permanently disabled, a citizen of the United States, a resident of Michigan for 5 or more years, and the sole owner of the homestead for 5 or more years. Income in 2018 cannot exceed $23,933. Income eligibility requirements are adjusted annually based on the Detroit Consumer Price Index.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The Department of the Treasury shall transmit to the collecting officer the sum of money required to indemnify the local special assessment district for a revenue loss resulting from the deferment of the special assessment.
Record ID
MI105_RR19
Footnotes
Sources
View Archived Source
Department of Treasury, Senior Citizen or Totally and Permanently Disabled Person's Affidavit Requesting Special Assessment Deferment [https://www.michigan.gov/documents/taxes/2748_DSA_Affidavit__Instructions_2017_555865_7.pdf Accessed 02/07/2019]
View Archived Source
Michigan Department of Treasury, Frequently Asked Questions (FAQs) About Deferred Special Assessments (August 2018) [http://www.michigan.gov/documents/treasury/DeferredSpecialAssessments_189257_7.pdf Accessed on 02/07/2019]
View Archived Source
[https://www.michigan.gov/taxes/0,4676,7-238-43535_55602---,00.html Accessed 12/20/2020] View Archived Source