Posts tagged as:

michigan homestead exemption

Property Tax Relief For Those With Two Homes

by Maureen Francis on April 9, 2008

in Seller Information, Taxes

I am clipping an interesting portion of an email just received from the Michigan Association of Realtors, witha bit of good news for those home sellers who are carrying two homes in Michigan.
Yesterday, Governor Granholm signed 3 significant pieces of REALTOR® supported legislation. First, legislation enabling home sellers to retain 2 principal resident exemptions for [...]

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Using the Principal Residence Sale Tax Exemption

by Maureen Francis on April 21, 2005

in Buyer Information, Taxes

Thursday, April 21, 2005By Robert J. BrussInman News
Internal Revenue Code 121, the principal-residence-sale tax exemption, can be used over and over again, without limit, but not more frequently than once every 24 months. Some savvy home buyers have even created a tax-free business by buying a fixer-upper house, living in it at least 24 months, [...]

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