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If I am purchasing a home on a land contract, how do I calculate my homestead property tax credit?

If you are purchasing your home on a land contract you are considered the owner of the home. Use the total taxes levied on the home in the year of claim for computing the credit; you may not include special assessments or penalty/interest fees in property taxes claimed for credit.

Note: Monthly amounts paid per the land contract are not considered rent to be used for the purpose of computing the credit.