When your annual income for the application year is $40,000 or less, your home will be exempt from all excess or special levies except the Emergency Medical Services Levy. Excess or special levies are in addition to regular levies. They require voter approval and provide money for a specific purpose, such as school bonds and maintenance and operation levies.
When your household income is between $30,001 and $35,000 you are exempt from regular levies, except the Emergency Medical Services Levy, for $50,000 or 35% of the assessed value, whichever is greater, not to exceed $70,000 of assessed value.
When your household income is $30,000 or less, you are exempt from regular levies, except the Emergency Medical Services Levy, on the first $60,000 or 60% of your home's assessed value, whichever is greater.
The exemption is canceled at the date of death. The taxes will be recalculated without the exemption. Your surviving spouse may continue to receive the exemption if he or she is at least 57 years old and meets all the other eligibility requirements.