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Old February 21st, 2013, 09:29 AM   #21
FORD FLARESIDE
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Originally Posted by GearDrive View Post
Its "if all of the following apply"

Sorry dude, for 2012 you make too much money.
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Old February 21st, 2013, 09:32 AM   #22
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Quote:
Originally Posted by GearDrive View Post
Its "if all of the following apply"
Once again, this is how I am interpreting it as well. If prior years didn't matter, then why even include that paragraph?

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Originally Posted by FORD FLARESIDE View Post
Sorry dude, for 2012 you make too much money.
If it is only based on 2012, then why include 2011 and prior? Wouldn't they only state the first paragraph?
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Old February 21st, 2013, 09:32 AM   #23
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Yea, your right
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Old February 21st, 2013, 09:40 AM   #24
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The Tax credit is based on several factors.... I recieved it but only $20

The amount of the credit that was calculated on the Form MI-1040CR for this return was $20.

"When household resources exceeds $41,000 but is less than $50,001 the amount of the credit is reduced in a phase-out process. The phase-out applies to this return"
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Old February 21st, 2013, 09:44 AM   #25
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My parents got $26. I got $0.

Just giving retirees another reason to move out of state.
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Old February 21st, 2013, 10:07 AM   #26
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Originally Posted by FORD FLARESIDE View Post
Proposal A was a vote of the people that put the exemption into place in 1994. I don't remember seeing anything about this. Was this a backroom executive order by Snyder?
this has nothing at all to do with proposal a, or the enabling legislation regarding it or property taxes at all. your PRE exemption will still apply to the school operating property tax millage if in fact you have the affidavit on file, and if in fact you legitimately own and occupy said residence as your primary residence.

in fact, they have expanded that portion of the property tax PRE exemption to allow for "conditional recessions" to allow for folks that have two houses and have one listed for sale (but not for lease) and just last year they also made a double-deadline - you previously had to own and occupy and file the form as of May 1st of the year - they expanded it to have a "winter PRE" for those that buy a house during the summer that may have formerly been bank-owned, vacant, non-PRE, etc.

this is about the homestead property tax credit claimed when filing your income taxes

Last edited by RyeBread; February 21st, 2013 at 10:13 AM.
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Old February 21st, 2013, 10:09 AM   #27
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Quote:
Originally Posted by curbdog17 View Post
I don't think most people knew what was at stake in the last election.
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Originally Posted by FORD FLARESIDE View Post
Apparently I'm extemely naive, because I was to busy trying to make ends meet with other situations in my life. I didn't expect this. Where was your commentary when it was happening, or do you approve of it?
again, this isn't related to your property taxes - it's simply a component of your income taxes filing - so in answer to your original question, no you did not hear right...

my comment about naivete was more along the lines of your elected representatives do/push/vote/legislate all kinds of shit without a vote of the people.



as for my commentary on it, I don't live in a baller house, but I have never qualified for any portion of the above said credit. in a nutshell it was theoretically there for folks that were "house rich" to help them keep a house if/when their property taxes crossed a certain threshold of their income. with the passage of proposal A, and the PRE exemption from school operating property tax millages, the cap on assessments etc. a larger and larger percent of people didn't qualify for substantive credits anyway.

Last edited by RyeBread; February 21st, 2013 at 10:16 AM.
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Old February 21st, 2013, 10:17 AM   #28
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OK, so its not the exemption, but the tax credit when filing income taxes.
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Old February 21st, 2013, 10:25 AM   #29
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Quote:
Originally Posted by High Center Hancho View Post
right to farm act of michigan...look it up you can have a farm anywhere you want on any size land as long as you practice general accepted agriculture practices
Unless things have changed in the past 2 years the local government can have jurisdiction over parts. In Wixom for instance you are required to have over 3 acres for the first livestock animal and an additional acre for each additional animal. The Michigan Department of Agriculture told me I would have to play by the city's rules. I no longer have chickens. I looked into the RTF act in detail and thought about fighting it but I thought it would be easier to just go back to buying eggs, and I'm not baller enough to have disposable cash to lawyer up for this.
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Old February 21st, 2013, 10:27 AM   #30
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Originally Posted by 14muddn View Post
Unless things have changed in the past 2 years the local government can have jurisdiction over parts. In Wixom for instance you are required to have over 3 acres for the first livestock animal and an additional acre for each additional animal. The Michigan Department of Agriculture told me I would have to play by the city's rules. I no longer have chickens. I looked into the RTF act in detail and thought about fighting it but I thought it would be easier to just go back to buying eggs, and I'm not baller enough to have disposable cash to lawyer up for this.

Bullshit...the right to farm act supercides local rules...and I'm not sure who you talked to in the Dept of Agriculture but when my buddy was having trouble from his township two phones and his problem went away
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Old February 21st, 2013, 10:51 AM   #31
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Quote:
Originally Posted by High Center Hancho View Post
Bullshit...the right to farm act supercides local rules...and I'm not sure who you talked to in the Dept of Agriculture but when my buddy was having trouble from his township two phones and his problem went away
The RTFA protects COMMERCIAL, lawfully established or legally nonconforming farm operations against public or private nuisance complaints brought against it, provided it meets GAAMPS (Generally Accepted Ag Management Practices). For example, if a farmer puts manure down on his field, the neighborhood that was built next door does not have the right to file suit.

The RTFA does NOT protect you from starting a pig farm on your property if the zoning does not permit. So no, it does also not always exempt local regs.
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Old February 21st, 2013, 10:55 AM   #32
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Quote:
Originally Posted by High Center Hancho View Post
Bullshit...the right to farm act supercides local rules...and I'm not sure who you talked to in the Dept of Agriculture but when my buddy was having trouble from his township two phones and his problem went away
while the act itself does supersede local control it does not abolish local land use/planning/zoning ordinances.

see Section 3(2) as an example:
Quote:
(2) A farm or farm operation shall not be found to be a public or private nuisance if the farm or farmo peration existed before a change in the land use or occupancy of land within 1 mile of the boundaries of the farm land, and if before that change in land use or occupancy of land, the farm or farm operation would not have been a nuisance.
if for example a property has always been zoned for residential (rather than agricultural land use) one can't magically just declare it a farm, wave the act in the air, and expect to prevail in civil court after your city's zoning officer comes and issues a misdemeanor ticket...


edit: beaten to it by the expert :)
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Old February 21st, 2013, 11:02 AM   #33
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Quote:
Originally Posted by RyeBread View Post
this has nothing at all to do with proposal a, or the enabling legislation regarding it or property taxes at all. your PRE exemption will still apply to the school operating property tax millage if in fact you have the affidavit on file, and if in fact you legitimately own and occupy said residence as your primary residence.

in fact, they have expanded that portion of the property tax PRE exemption to allow for "conditional recessions" to allow for folks that have two houses and have one listed for sale (but not for lease) and just last year they also made a double-deadline - you previously had to own and occupy and file the form as of May 1st of the year - they expanded it to have a "winter PRE" for those that buy a house during the summer that may have formerly been bank-owned, vacant, non-PRE, etc.

this is about the homestead property tax credit claimed when filing your income taxes
This is the information that I was looking for, Thank You.
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Old February 21st, 2013, 12:44 PM   #34
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For those of you that were asleep during 2011, the State of MI eliminated a number of state tax credits, and reduced several more effective 1/1/2012:

Gone:
The college tuition credit
Charitable contribution credit for donating to certain types of MI charities
Credit for taxes paid to MI cities

Whacked at the knees:
MI earned income credit
Property tax credit

The following is a nice concise summary even though it doesn't touch on the property tax credit changes (I don't know or endorse the guy, just a good reference I found via Google):

Michigan Tax Law Changes Signed Into Law

May 26th, 2011

On Wednesday, May 25, 2011, Governor Snyder signed a number of new tax Bills to revise Michigan’s tax structure. The new laws include elimination of the Michigan Business Tax (MBT), creation of a Michigan Corporate Income Tax and permanent spending reductions, elimination of tax credits for low-income workers, phase-out of most senior tax breaks and eliminates numerous income tax deductions and credits. The new law is effective January 1, 2012.

Some of the key changes for businesses are the following:

The MBT is eliminated as of January 1, 2012. A new corporate income tax will be levied on C Corporations at a tax rate of 6.0%. The method of computing the tax is similar to the income tax portion of the current Michigan Business Tax (MBT) Act. The tax is effective January 1, 2012.
S Corporations, Limited Liability Companies, partnerships and individuals are not subject to the corporate income tax.
Income will be apportioned to Michigan based on the ratio of Michigan sales to total sales.
Unitary filing is required for corporations under common control.
Companies with apportioned gross receipts of less than $350,000 will not be required to file a return, as well as companies with a liability of less than $100.
The small business credit is still available for eligible companies. The credit is available for qualifying “small business” (e.g. less than $20 million in gross receipts and income less than $1.3 million). There are additional limits based on compensation and directors fees to individual shareholders and officers.
All other credits provided for under the MBT are eliminated.
For those taxpayers that would like to continue claiming certificated credits, an election can be made to file under the MBT Act instead of the new corporate income tax. Certificated credits include (but are not limited to) Brownfield Credits, MEGA Credits, The Media Production and Infrastructure Credit, and Renaissance Zone Credit. An election would be required to file under the MBT rather than the corporate income tax. Once made the taxpayer would be subject to the MBT until the credits have expired. Taxpayers claiming certificated credits would be required to pay a tax based on the greater of their Michigan business liability or a modified version of the liability under the corporate income tax.


Some of the key changes for individuals are the following:

The law will keep the tax rate of 4.35% through January 1, 2013 and then lower it to 4.25%

The deduction for pension and retirement income (including social security) has been modified. The changes are determined based on the age of the older spouse as follows:

• For individuals born before 1946, there is no change; pensions are not taxable.

• For individuals born in 1946 through 1952, the deduction is limited to $20,000 for a single return and $40,000 for a joint return. However, the deduction will be limited if the taxpayers income exceeds certain thresholds.

• For individuals born after 1952, there will be no deduction allowed for retirement income. However, once the taxpayer reaches age 67, the taxpayer may elect to deduct $20,000 for single or $40,000 for joint return against all types of income. However, the deduction will be limited if the taxpayers income exceeds $75,000 for single return or $150,000 for a joint return.
A taxpayer born after 1945 can no longer deduct a portion of interest, dividends and capital gains received.
Taxpayers can no longer receive an additional $600 exemption for each dependent child under the age of 19 or $1,800 for each taxpayer age 65 and older.
The personal exemption is fixed at $3,700 through 2012. Beginning in year 2013, the exemption will be adjusted annually for inflation. The personal exemption will be phased out for single taxpayers with household resources between $75,000 and $100,000 and married couples filing joint return with household resources between $150,000 and $200,000.
Business income reported on an individual income tax return would be apportioned based on 100% of a sales factor rather than a three factor formula equally weighted.
Elimination of many non-refundable credits such as the city income tax credit, the public contribution credit, the community foundation credit, the homeless/food bank credit, the college tuition credit and the vehicle donation credit.
Political contributions are no longer deductible.
The Michigan Earned Income Tax Credit is eliminated.

This information is a brief summary of a complex new law and is provided for informational purposes only. It is not intended to constitute tax advice which may be relied upon to avoid penalties. If you have questions on the new law, please contact by Edward J. Castellani, J.D., C.P.A. at Fraser Treblcock at 517.377-0845 or ecast@FraserLawFirm.com.
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Old February 21st, 2013, 02:57 PM   #35
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according to my tax guy this didnt change much from last year if you make more then 50k per year. No change for me.
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