COLDWATER, MI (WTVB) – In accordance with recent revisions in state property tax law, the Coldwater City Council approved a resolution on Monday night which amends policies and guidelines for applicants requesting poverty exemptions.
Neighborhood Services Director and City Assessor Deb Sikorski said in her report that recent legislative revisions made the city policy invalid and in need of amendment.
The updated policy calls for applicants to own and occupy the property for which the exemption is requested.
Applicants cannot be considered for exemption if their total household gross income exceeds the Federal Poverty Guidelines as defined and determined annually by the U.S. Department of Health and Human Services. Income is from all occupants of the home.
Non-cash assets for the total household may not exceed $15,000.
Once granted, exemptions may remain in effect for up to three years for persons who receive a fixed income solely from public assistance that is not subject to significant annual increases.
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