LANSING, Mich. — Sen. Jim Stamas is alerting Michigan homeowners about inaccurate information being shared online about the principal residence exemption.
“Unfortunately, many residents are receiving false information on social media saying that their principal residence exemption is only good for 25 years and they will see a huge tax increase once they hit that mark,” said Stamas, R-Midland. “I want to be as clear as possible: Your principal residence exemption never expires, and you do not need to refile for it unless you move.”
According to the Michigan Department of Treasury, state officials and local assessors are experiencing a surge in inquiries from residents who are trying to verify the misinformation or submit unneeded paperwork.
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. 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, residents can visit www.michigan.gov/propertytax.
Residents can also contact Stamas’ office toll-free at 1-855-347-8036 or via email at SenJStamas@senate.michigan.gov.