Wednesday, September 24, 2008

What Qualifies as a Principal Residence?

This is probably one of the most frequently asked questions I encounter.

A "principal residence" is defined by section 7dd(c) of the Michigan General Property Tax Act,MCL 211.7dd(c), as follows:

"Principal residence" means the 1 place where an owner of the property has his or her true, fixed, and permanent home to which, whenever absent, he or she intends to return and that shall continue as a principal residence until another principal residence is established.

Not very legalistic, is it? Your principle residence is the the one true home you return to whenever you are away. If you can prove that your property serves as your principle residence, then you may be entitled to a personal residence exemption which would exempt you from property taxes levied by a local school district for operating purposes.

2 Comments:

Anonymous MI Real Estate Blogger said...

What would prevent someone from having to pay Property Taxes? Wouldn't you have to have a secondary residency?

10/02/2008 01:31:00 PM  
Anonymous Anonymous said...

amazing stuff thanx :)

3/05/2010 03:25:00 AM  

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