The passage of Proposal A in March of 1994 drastically changed the property assessment and taxation system. Some of the charges may be difficult to understand.
Questions about the Assessment Cap may be answered by reviewing the following pamphlet:
The Assessment Cap and What It Means To You
Principal Residence Exemption (Formerly known as Homestead Exemption)
Formerly known as the Homestead Exemption, Principal Residence Exemption allows a homeowner to claim an exemption from school operating tax of almost 18 mills on the primary residence that they own and occupy.
To claim the Principal Residence Exemption you MUST own, occupy and file the claim of exemption by June 1st for the summer tax bill or November 1st for the winter tax bill. The exemption impacts your tax bill in part by exempting the payment in full or part of the School Operating Millage.
The term owner means you hold the legal title to the principle residence or that you are currently buying it on a notarized or recorded land contract. Renters may not file this form.
The term occupy means this is your principle residence. It is the address that appears on your Driver’s License, & Voters Registration Card. You may have only one Principal Residence at a time. Vacation homes and income property which you do not occupy as your principle residence may not be claimed.
Affidavit forms can be obtained by contacting the local assessor’s office or by visiting the State of Michigan Website.