Michigan Homestead Exemption Status

The statutory terms of the Michigan homestead exemption law use a two tiered approach for establishing the allowable value limit. Individuals, including spouses and dependents, are permitted $30,000 fair market value, while persons 65 or older may claim $45,000 in exempt equity.

The Michigan Homestead Exemption Act also allows for value adjustments based on the consumer price index, so the current amount of the exemption changes from time to time in response to fluctuations in the general economy. The add a layer of protection when claiming home exemptions, use the Michigan homestead exemption form provided by the Office of the County Clerk throughout Michigan counties.

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