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Michigan principal residence exemption form

Michigan principal residence exemption form 2025

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The document is a form from the Michigan Department of Treasury for the Conditional Rescission of Principal Residence Exemption (PRE). It outlines the process for property owners to retain their PRE on previously exempted properties while establishing a new principal residence. The form must be submitted annually to verify compliance with specific conditions, such as the property being unoccupied, for sale, and not used for business purposes. It includes sections for property information, owner certification, and assessor's certification.

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Click ‘Get Form’ to open the Michigan Principal Residence Exemption form in our platform.
In Part 1, select the appropriate box for your conditional rescission type: Initial Request, Second Year Annual Verification, or Third Year Annual Verification. Enter the applicable tax year.
Proceed to Part 2 and provide your Property Tax Identification Number, local unit name (city or township), complete street address, and owner details including names and last four digits of Social Security Numbers.
Answer questions regarding the property's current status, such as whether it is for sale or leased. Ensure all information is accurate to avoid processing delays.
In Part 3, provide details about your current principal residence and attach necessary documentation like a tax bill and PRE Affidavit.
Complete Part 4 by signing and dating the form. Include your current mailing address.
Finally, submit the completed form to your local assessor by mail before the deadline. Ensure it is certified by the assessor in Part 5 for validity.

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2019	4.8 Satisfied (36 Votes)
2018	4.4 Satisfied (147 Votes)
2015	4.3 Satisfied (143 Votes)
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What qualifies as an exemption?

A tax exemption is an income stream on which no tax is levied, such as interest income from state and local bonds, which is often exempt from federal income tax. Additionally, certain qualifying non-profit organizations are exempt from federal income tax.

Who qualifies for property tax exemption in Michigan?

To qualify for a PRE on a parcel of land, a person must be a Michigan resident who owns and occupies the property as a principal residence. The PRE is a separate program from the Homestead Property Tax Credit, which is filed annually with your Michigan Individual Income Tax Return.

How to prove principal place of residence?

1. What Is a Principal Place of Residence? you and your family live in the dwelling. your personal belongings are there. it is the address where your mail is delivered. it is the address recorded on the electoral roll. essential services such as gas and electricity are connected in your name.

What does principal residence exemption do?

What Is the Tax Exemption for a Principal Residence? Individual owners of a home do not have to pay capital gains on the first $250,000 of value sold on a property. Married couples are exempt from capital gains tax on the first $500,000 in gains.

What qualifies as a principal residence?

A principal residence or principal place of residence is considered to be equivalent to domicile, that place where a person has his or her true, fixed, and permanent home and to which that individual has the intention of returning to, whenever absent.

conditional rescission

Michigan principal residence exemption form pdf Principal Residence Exemption Michigan Principal Residence Exemption Frequently Asked Questions Principal Residence Exemption Affidavit Michigan Homestead Exemption form pdf Request to Rescind principal Residence Exemption principal residence exemption (pre) affidavit Form 2368 Michigan

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How do you qualify for principal residence exemption in Michigan?

To qualify for a principal residence exemption on a dwelling, MCL 211.7cc requires that the property be: (1) owned by a qualified owner as defined by MCL 211.7dd(a); (2) occupied as a principal residence by that owner of the property; (3) none of the disqualifying factors listed in MCL 211.7cc(3) apply; and (4) claimed

Who qualifies for a principal residence exemption in Michigan?

If you own and occupy your home as your primary residence you may qualify for the Principal Residence Exemption (PRE). This exempts you from a portion of your local school operating millage. To claim a PRE you must file the form at the Assessing Department. When you no longer qualify you must file the rescission.

Michigan principal residence exemption form 2025

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