LANSING – State Representative Henry Yanez (D-Sterling Heights) saw his House Bill 4064 receive committee approval today. The bill extends the property tax credit for disabled veteran homeowners to disabled veterans who rent or lease their homes.
“We did the right thing when we passed a law exempting 100 percent disabled veterans from property tax liability, but we fell short of all that we needed to do when we failed to include disabled veterans and their families who rent or lease their home, and my bill fixes that mistake,” said Yanez. “Renters should benefit from a tax exemption as much as homeowners. I am glad that we are one step closer to giving them this tax exemption.”
Public Act 161 was signed into law in November 2013 after passing unanimously in both the state Senate and House of Representatives. HB 4064 would, like PA 161, exempt 100 percent disabled veterans and, under certain circumstances, their widows, from property tax liability. The bill sets a formula to determine how much property tax a renter or lessee pays and, therefore, how much of a credit they are entitled to.
“Our veterans and their families make great sacrifices in order to serve and protect all of us, and disabled veterans have made even bigger sacrifices, so they deserve all of the assistance that we can offer to them and their families,” said Yanez. “My bill recognizes that we shouldn’t treat homeowners and renters differently, and that a tax credit can be as helpful to a renter as it is to a homeowner. I thank the members of the House Committee on Tax Policy for their support, and look forward to winning approval from my House and Senate colleagues and seeing this bill signed into law quickly.”