House Joint Resolution T proposes an amendment to the Michigan Constitution of 1963, specifically targeting the taxation of property used as a principal residence. The resolution seeks to limit the increase in taxable value of such properties upon their transfer, ensuring that the taxable value remains capped as long as the property continues to be owned and used as a principal residence. This amendment aims to provide stability for homeowners by preventing significant tax increases that could occur with property transfers.

The proposed amendment outlines that after December 31, 2025, the transfer of a principal residence will not trigger an adjustment to its taxable value based on current true cash value, as long as the property remains continuously owned and used as a principal residence. However, if the property is no longer used as a principal residence, it will then be assessed at its current true cash value. The resolution mandates that this amendment be presented to the voters at the next general election for approval.