TOWNSHIP OF RENO 

POVERTY EXEMPTION STANDARDS 

Pursuant to MCL 211.7u; MSA 7.7(4r), 

The effect of the property tax rebate feature of the Michigan Income Tax will be applied when making the calculation, whether or not the current year’s MI-1040CR was filed. 

1. Applicants will not be eligible for consideration if the total household income does not meet the Federal Poverty as adjusted annually. 

2. A homestead shall not be eligible for a poverty exemption unless it has a true cash value (fair market value) which is less than the average of all single-family Homestead properties located within the Township of Gustin as determined by the most recent assessment roll confirmed by the Board of Review. 

3. The applicant must meet all parts of the following asset test. 

A. Must not have assets which total more than $10,000.00 excluding the homestead equity and the cash value of one automobile. This automobile cannot exceed the book value of $10,000.00. 

B. Liquid assets must be less than twice the amount of the current annual property tax obligation. 

4. Applicants must be owners of the property and reside therein. 

A. Must produce a driver’s license or other acceptable methods of identification. 

B. Must produce a deed, land contract, or other evidence of ownership. 

5. Applicants must fill out application form in its entirety and return it in person to the assessor or township supervisor. 

A. Must not sign it until returned. 

B. Application must be witnessed by the Assessing Office or board of Review. 

6. All applicants must submit the following information for all persons residing in the home. 

A. The latest year’s Federal Income Tax Return either 1040 or 1040A. (if applicable) 

B. The latest year’s State Income Tax Return-MI-1040 (if applicable) 

C. Homestead Property Tax Claim MI 1040cr. (If filed) 

D. Proof of Gross annual income from all sources as defined by the Bureau of the Census. 

E. Last three (3) months of bank statements. 

7. Applications must be filed with the assessor after January 1 but before the day prior to the last day of the Board of Review. 

8. Applications may be reviewed by the Board without application being present. However, the board may request that an applicant be physically present to respond to any questions the board or assessor may have. This means that you may be called to appear in short notice. 

9. You may have to answer questions regarding your financial affairs, your health, and the status of people living in your home before the board at the meeting which is open to and may be attended by the public at large. 

10. Applicants appearing before the board will be administered an oath, as follows: 

“Do you, 

swear to affirm that evidence and testimony you will give in your own behalf before the board of review is the truth, the whole truth and nothing but the truth” 

The applicant responds “I do” or “I will.” 

All revenue and non-revenue producing assets owned by the applicant will be considered in determining whether relief should be granted. 

The board may grant property tax relief based on poverty annually. 

A successful applicant may be subject to personal investigation by the township. This is done to verify information submitted or statement s made in regard to a tax exemption claim. 

The meeting may be tape recorded and minutes will be kept of all proceedings before the board of review. All meeting must be held in compliance with the Open Meetings Act. 

Applicants must be evaluated on: 

Data submitted to the board by applicant 

Testimony taken from applicant and information gathered from any source by the Supervisor and the board.  

The Bureau of the Census defined income to include the following: 

1) Money wages and salaries before any deductions. 

2) Net receipts from nonfarm self-employment. These are receipts from a person’s own business, professional enterprise or partnership, after deductions for business expenses. 

3) Net receipts from farm self-employment. These are receipts from a farm which operates as an owner, renter or sharecropper, after deductions for operating expenses. 

4) Regular payments from social security, railroad retirement, unemployment compensation, strike benefits from union funds, workers compensation, veteran’s payments, public assistance (including aid to families with dependent children, supplemental security income, emergency assistance money payments, and non-federally-funded general assistance or general relief money payments). 

5) Alimony, child support and military family allotments or other regular support from an absent 

family member or someone not living in the household. 

6) Private pensions, government employee pensions (including military retirement pay), and regular insurance or annuity payments. 

7) College or university scholarships, grants, fellowships, and assistantships. 

8) Dividends, interest, net rental income, net royalties, periodic receipts form estates or trusts, and net gambling or lottery winnings. 

Income does the following: 

1) Money received from the sale of property such as stocks, bonds, a house, or a car unless a person is of selling such property. 

2) Withdrawals of bank and borrowed money. 

3) Tax refunds, gifts, loans, lump-sum inheritances, one-time insurance payments. 

4) Food or housing received in lieu of wages and the value of food and fuel. produced md consumed on farms. 

5) Federal noncash benefit programs such as Medicare, Medicaid, food stamps, and school lunches.