The Pulte family, known for their prominent role in the housing industry, is under scrutiny following claims of fraudulent homestead exemptions filed by family members Mark and Julie Pulte. Wealthy residents of exclusive enclaves in Michigan and Florida have purportedly reaped the benefits of this tax break. These breaks only go as far as they do in rare exceptions. It makes it easier to call into question the legitimacy of their assertions and the legal jeopardy that they might find themselves in.
Mark Pulte, a senior officer at his family’s foundation, who in 2017 founded a Florida-based luxury housing company. He even submitted a homestead exemption application for his new primary residence in Boca Raton. At the same time, his wife, Julie Pulte, took a similar exemption on their residence in Bloomfield Hills, Michigan. This two-pronged strategy for asserting exemptions has been worrisome. It undermines basic rules that allow couples to seek these and other exemptions only if they live wholly separate lives.
The homestead exemptions claimed by the Pultes could save them an estimated $158,000 in taxes for the year 2025 in Florida alone. This huge cash bonanza arrives while they’re otherwise under investigation for violating laws related to these very exemptions. When homebuilders and philanthropic Pulte family members Mark and Julie Pulte relocated from their Michigan home earlier this year, rental seemed most practical. This decision is contrary to the state’s homestead exemption laws.
When the Pultes purchased their Michigan property in 2020, they paid close to $1 million. Mark and Julie are personally listed on a revocable trust that holds title for this home. This property sits in the middle of one of Michigan’s most affluent communities. The couple’s recent purchase of a luxury property in Boca Raton further adds to their portfolio of high-value real estate.
Critics have pointed out that we still don’t have a mortgage record for either property. This implies that Mark and Julie Pulte must have purchased these homes in full cash payments. This innocuous detail raises a slew of new questions about their financial machinations. It further undermines the credibility of their arguments against exemptions that most folks agree shouldn’t apply to them.
Lisa Bender, former Minneapolis City Council President and local housing expert, pointed out just how unusual for such exemptions to be granted. She cited particularly the situation described by the Pultes.
“It’s not something that either state generally lets you get away with.” – Lisa Bender
On the political side, Mark Pulte has been deeply invested, giving over $455,000 so far to Republican candidates and causes. He’s deeply committed to a new venture with Pulte Capital Partners, the private equity firm started by Bill Pulte. This ties his business interests closely with his political friends and support.
The worst is probably yet to come, says legal tax expert Nery Mejia. This is understandable, given how incendiary the accusations are from the Pultes.
“Based on this, the matter should be handled by Michigan.” – Nery Mejia
The Pulte family’s rise to prominence began with a housing empire established by Mark Pulte’s father in Michigan. Their vigorous engagement in conservative circles has made them new power players inside the movement’s electoral base. These latest allegations may do permanent damage to their reputation and create ethical issues about the way they’re running their business.
Ongoing investigations into the accuracy of the claims. Only time will tell how this experiment works out to the benefit of Mark & Julie Pulte. Their decisions affect their bottom line personally and directly. They have an outsized impact on the rest of the country as other purveyors of such tax benefits shop for them across state lines.