Exemption Allowed for Elderly Housing in Michigan

Effective 03/27/2012, HB 4618 allows the Michigan Department of Treasury to grant for 2012 and the three preceding years an exemption allowed for nonprofit housing for the elderly or disabled, if the property would have qualified for the exemption if the property owner had timely filed in 2010 the required application form. If the granting of the exemption under this provision results in an overpayment of tax, a rebate, including any interest paid, must be made to the taxpayer by the local tax collecting unit or county treasurer (whichever has possession of the tax roll) within 30 days of the date the exemption is granted. The rebate would be without interest.