LANSING, Mich. — The Senate on Tuesday approved legislation sponsored by Sen. Jon Bumstead that would provide municipalities financial relief for providing military veterans’ property tax credits, while ensuring eligible veterans continue to receive the tax relief through the current process.
“This is an important reform that protects the property tax relief of 100% disabled veterans and the process they use to get relief, while also shifting the resulting tax burden from our local units of government to the state, providing them much needed relief as well,” said Bumstead, R-North Muskegon.
Senate Bills 783 and 1084 would maintain the same level of tax relief for 100% disabled veterans and would transform the benefit from a property tax exemption to an income tax credit to ease the burden on local governments. The process for eligible veterans to claim their credit would remain the same, while cities, villages, townships, and counties would get much-needed financial relief from the state.
SBs 783 and 1084 now advance to the House of Representatives for consideration.
“I am hopeful these bills will gain the support of my colleagues in the House and of the governor to help our local units of government continue to provide property tax relief for our veterans,” Bumstead said.