Conditional Rescission of Principal Residence Exemption
On April 8, 2008 Governor Granholm signed House Bill 4215, amending Section 211.7cc of the General Property Tax Act. This enables a person who has established a new principal residence to retain a Principal Residence Exemption on property previously exempt by submitting a Conditional Rescission of Principal Residence Exemption (PRE) form (Form 4640). In this article, Delta Township Assessing department addresses commonly asked questions as issued under the authority of Public Act 96 of 2008.
What is a conditional rescission?
How do I apply for a conditional rescission?
How long is the conditional rescission effective?
If an owner misses the May 1 or the December 31 deadline, can the Board of Review reinstate the PRE under a conditional rescission?
Since my prior principal residence, which I still own meets all qualifying conditions and has been this way for all of 2006 and 2007, can I get my PRE put back on my property for 2006 and 2007 by submitting Form 4640?
If I leased my home for a period of time after it was no longer my principal residence, but no longer lease it, and all other conditions are met, can I still qualify for a conditional rescission?
If I move into an apartment that I rent, and all other conditions are met, would I qualify?
If I move into another state, can I qualify?
Do you have an idea, question or comment for the Township? Let us know!
Lansing MI 48917
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