Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago,
Homestead Tax and LLC (MI)
I'm looking to purchase a triplex, live in one unit and rent out the other two, but I'm unsure of how the homestead property tax would work. I'd like my LLC to own the property for protection, but does that mean the property then becomes a non-homestead and it gets taxed at a higher rate?
Or because I own the LLC and the property is owner occupied, the property still qualifies as a primary residence?