Property tax: exemptions; property tax exemption for principal residence of certain senior citizens; provide for. Amends secs. 7u & 53b of 1893 PA 206 (MCL 211.7u & 211.53b) & adds sec. 7yy.

This bill expands property tax relief for Michigan homeowners who are seniors and living in poverty by establishing a new exemption category. To qualify, residents must own and occupy their home as a principal residence while meeting specific federal poverty guidelines or alternative local income standards. The legislation requires applicants to submit annual documentation, such as tax returns or affidavits, and allows local boards to grant either full or partial tax reductions based on these criteria. Additionally, the bill permits certain individuals with fixed incomes from public assistance to maintain their exemption status for up to three years without needing to reapply annually.