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Instructions for Completing Form 4632, Principal

Instructions for Completing Form 4632, Principal-2025

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The document is a Principal Residence Exemption (PRE) Audit Questionnaire issued by the Michigan Department of Treasury. It collects detailed property and ownership information from individuals or entities claiming a PRE, including current and former ownership types, occupancy history, and alternative uses of the property. The form requires submission of proof of ownership and occupancy along with any relevant affidavits.

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Click ‘Get Form’ to open it in the editor.
Begin with Part 1: Property Information. Fill in the street address, county, city, state, ZIP code, and parcel ID accurately.
Move to Part 2: Ownership Information. Select all applicable ownership types and provide details for each owner including names, contact information, and whether they currently reside at the property.
If applicable, indicate any additional owners on the reverse side of the form. Ensure you provide dates of occupancy and previous addresses if necessary.
In Part 3: Alternative Use of the Property, specify any rental or business use percentages and answer questions regarding agricultural exemptions or military affidavits.
Finally, review all sections for accuracy before submitting your completed form along with any required documentation to the specified email or address.

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How to get property taxes waived in Michigan?

You must submit a Principal Residence (Homestead) Exemption Request Form (PDF) to receive the exemption. You do not have to reapply each year. When you no longer own and occupy a property as your principal residence, you are required to file a Request to Rescind Principal Residence Exemption From (PDF) .

How much is the principal residence exemption in Michigan?

Principal Residence Exemption (Homestead Exemption) This is usually an 18-mill reduction in calculated taxes. This means that a homeowner is usually going to pay $18 less per $1,000 of taxable value on a principal residence than if it was a cottage or second home.

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

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.

What are the rules for homestead exemption in Michigan?

Who Qualifies? You are considered a natural person (owner or claimant), and not a living trust, irrevocable trust, or other legal entity, such as a S corporation or LLC, etc. Your homestead is in Michigan (whether you rent or own). You were a Michigan Resident for at least 6 months of the year you are filing in.

How do I file a principal residence exemption in Michigan?

Principal Residence Exemption (PRE) To claim an exemption, the owner/occupant must file Michigan Department of Treasury form 2368 with the local assessor in the community where the property is located. The deadline to file form 2368 is June 1 for the summer tax levy and November 1 for the winter tax levy.

Can you have two primary residences in Michigan?

You may claim your Michigan home only if you own it and occupy it as your principal residence. You may not have more than one principal residence.

What is the school operating tax exemption in Michigan?

A Principal Residence Exemption (PRE) exempts a residence from the tax levied by a local school district for school operating purposes up to 18 mills. Section 211.7cc and 211.7dd of the General Property Tax Act, Public Act 206 of 1893, as amended, addresses PRE claims.

Instructions for Completing Form 4632, Principal-2025

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Got questions?

How to get property taxes waived in Michigan?

How much is the principal residence exemption in Michigan?

How do you qualify for principal residence exemption in Michigan?

What qualifies as an exemption?

What are the rules for homestead exemption in Michigan?

People also ask

How do I file a principal residence exemption in Michigan?

Can you have two primary residences in Michigan?

What is the school operating tax exemption in Michigan?

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Instructions for Completing Form 4632, Principal-2025

Here's how it works

How to use or fill out Instructions for Completing Form 4632, Principal with DocHub

Complete this form in 5 minutes or less

Got questions?

How to get property taxes waived in Michigan?

How much is the principal residence exemption in Michigan?

How do you qualify for principal residence exemption in Michigan?

What qualifies as an exemption?

What are the rules for homestead exemption in Michigan?

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People also ask

How do I file a principal residence exemption in Michigan?

Can you have two primary residences in Michigan?

What is the school operating tax exemption in Michigan?

Related links

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