On May 1st, Governor Snyder signed PA 114 of 2012 which amends the General Property Tax Act by establishing two deadlines by which a Principal Residence Exemption (PRE) may be filed and creates a new conditional rescission for “foreclosure entities.”
The deadline for a property owner to file a PRE Affidavit for taxes levied after December 31, 2011 has changed from May 1st to June 1st, and a second deadline of November 1st was added. Property owners that occupy a property as a principal residence and submit a PRE Affidavit on or before June 1, 2012, may qualify for a PRE beginning with the 2012 summer tax levy. Property owners that occupy a property as a principal residence at any time from June 2, 2012 to November 1, 2012 and submit a PRE Affidavit on or before November 1, 2012, may qualify for a PRE beginning with 2012 winter tax levy. This dual deadline will continue throughout future tax years, but is not retroactive to previous tax years.
A foreclosure entity (Entity) conditional rescission filed by a land contract vendor, bank, credit union, or other lending institution on or before June 1st or November 1st will allow the Entity to retain a PRE on foreclosed property provided that the property meets other statutory requirements. The Entity must annually verify to the local assessor on or before December 31st of each year that the foreclosed property continues to qualify for the conditional rescission.
Assessor - Chris Renius
Assistant to the Assessor - Staff
Chris Renius will be available in the office on Tuesdays from 8:30 AM to 4:30 PM. For information on other days of the week, please feel free to contact the office by phone at (734) 426-3767.