Bill Pulte’s Family Faces Scrutiny Over Dual Homestead Exemptions Amid Fraud Allegations Against Fed Governor Lisa Cook
Bill Pulte’s father and stepmother are under scrutiny for claiming homestead tax exemptions in both Michigan and Florida, while Pulte himself accuses Fed Governor Lisa Cook of similar dual residency fraud.
Introduction
The controversy surrounding housing tax exemptions deepened this week as Mark and Julie Pulte, close relatives of housing heir Bill Pulte, were found to have claimed homestead exemptions in both Michigan and Florida. The revelations come as Bill Pulte continues to accuse Federal Reserve Governor Lisa Cook of committing mortgage fraud through similar dual residency claims.
Public records reviewed by Reuters show that the Pultes, who are tied to one of America’s most influential housing families, have benefited from thousands of dollars in tax breaks, sparking questions of legality, privilege, and political influence.
Dual Homestead Exemption Claims
Michigan and Florida Properties
- Michigan Property: A four-bedroom home in Bloomfield Hills purchased for nearly $1 million in 2020.
- Florida Property: A luxury Boca Raton waterfront residence purchased for $4.25 million in 2016, featuring marble floors, pool, and boat dock.
Local tax assessors confirmed that both homes were claimed as primary residences, a status that legally cannot be applied to more than one property at a time in most states.
“Revised tax bills will be issued to the Pultes, including all applicable penalty and interest,” said Darrin Kraatz, Michigan’s director of assessing.
Fallout After Reuters Inquiry
Shortly after inquiries were made, Michigan officials revoked the exemption on the Bloomfield property, stating it had also been rented out – another violation of the tax discount rules.
Meanwhile, Florida authorities said the exemption there predates Michigan’s claim, meaning Michigan must resolve the conflict.
Real estate experts noted that such exemptions can save wealthy homeowners hundreds of thousands of dollars annually, raising concerns that the Pultes’ claims deprived local school systems and communities of critical funding.
Political and Legal Implications
Bill Pulte, who was appointed by Donald Trump in 2020 as director of the Federal Housing Finance Agency (FHFA), has aggressively accused Lisa Cook of mortgage fraud on similar grounds.
His public criticism contributed to Cook’s dismissal and sparked a Justice Department probe into her residency declarations.
Cook, however, denies wrongdoing. Her attorney argued that her property descriptions “are not fraud.”
This new development raises ethical questions, as Pulte’s accusations against Cook now mirror practices within his own family.
Expert Reactions
Property law specialists told Reuters that dual exemptions are typically permissible only under rare circumstances, such as legally separated spouses living independently.
Lisa Bender, a veteran real estate agent active in both states, said:
“It’s not something that either state generally lets you get away with. Somehow they got lucky.”
The Bigger Picture: Wealth, Politics & Housing
The Pulte family, heirs to a housing empire, have long been influential in Republican circles, contributing millions to conservative causes. Mark Pulte’s high-profile real estate transactions include the record-breaking $122.7 million sale of a Palm Beach estate once owned by Donald Trump.
The scrutiny over dual exemptions highlights not only personal accountability but also the broader question of how wealthy families leverage tax laws to reduce obligations.
Key Takeaways
- Bill Pulte’s relatives claimed homestead exemptions in two states.
- Michigan revoked one exemption after Reuters inquiries.
- Bill Pulte accuses Fed Governor Lisa Cook of similar misconduct, sparking DOJ probe.
- Real estate experts suggest dual exemptions are rarely permissible.
- The case underscores tensions between political power, wealth, and housing law compliance.
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