Principal Residence Exemption (PRE) - Does Not Expire
The Michigan Department of Treasury is reminding Michiganders that a Principal Residence Exemption – known as a PRE – does not expire.
Inaccurate posts being shared on social media are claiming that Michigan taxpayers will experience a surge in property taxes due to their PRE expiring after 25 years. In return, the state Treasury Department and local assessors are experiencing a surge in inquiries from residents who are trying to verify this misinformation or submit unneeded paperwork.
A PRE exempts a residence from the tax levied by a local school district for school operating purposes up to 18 mills. To qualify for a PRE, a person must be a Michigan resident who owns and occupies the property as a principal residence.
For more information about property taxes, go to www.michigan.gov/propertytax.
Department of Treasury Press Release
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