Renaissance Zones are areas designated by the local government and the State of Michigan as virtually tax-free living areas for anyone presently located in or moving to one of the zones - and there is no paperwork. Renaissance Zones are an economic development breakthrough that originated here in Michigan, and are now being copied by other states. Overall, the cost to live in a property in a Renaissance Zone is significantly less.
Any person can live here, and with a few guidelines you qualify. Remember, there are no massive amounts of paperwork to complete; you only need to live here for 183 days and not be delinquent on any state or local taxes. Also, the Renaissance Zone must be your principal, permanent residence. For example, if you become a full-time resident of a Renaissance Zone on May 15, 2009, you do not attain residency status until 183 consecutive days later (September 14, 2009). After a taxpayer has completed the 183-day residency requirement, the taxpayer is considered to have been a resident of the Renaissance Zone beginning from the first day used to determine if the 183-day residency requirement has been met.
The taxpayer may file an amended income tax return for the previous year in which they moved into the zone. Only individuals who are residents of a Renaissance Zone are exempt from paying income taxes.
The City of Lansing approved the Capitol Club Tower site as an official Renaissance Zone on Monday, December 10th, 2007.
