Get the free Homeowner’s Principal Residence Exemption Affidavit

An affidavit for claiming a principal residence exemption from property taxes in Michigan, which must be filed with the local assessor and rescinds any previous exemptions.

How to fill out homeowners principal residence exemption

How to fill out Homeowner’s Principal Residence Exemption Affidavit

1. Obtain the Homeowner’s Principal Residence Exemption Affidavit form from your local assessor's office or website.
2. Read the instructions carefully to ensure you meet the eligibility requirements.
3. Fill out your personal information, including your name, property address, and any required identification numbers.
4. Indicate the date you moved into the home you are claiming as your principal residence.
5. Confirm that the property is used exclusively for residential purposes and is your primary home.
6. Sign and date the affidavit to certify the information provided is accurate.
7. Submit the completed form to your local assessor's office by the specified deadline.

Who needs Homeowner’s Principal Residence Exemption Affidavit?

1. Homeowners who occupy their property as their principal residence.
2. Individuals who want to qualify for tax exemptions on their primary home.
3. Property owners who have recently moved to a new residence and wish to claim it as their principal home.

People Also Ask about

What is the new tax law for the elderly in Texas?

In addition to the new $100,000 exemption, Texas homesteaders with disabilities and those 65 and older will continue to qualify for the extra $10,000 exemption they are already allowed to receive — for a total exemption of $110,000.

What is the new school tax law in Texas?

The marquee proposal would increase the amount of a home's value exemption from school taxes to $140,000 from $100,000. The legislation must win approval from the House next. Audio recording is automated for accessibility.

Do school taxes freeze at 65 in Texas?

The tax freeze (also known as the tax limitation or tax ceiling) limits the amount of school districts and some other taxing jurisdictions. The amount you pay the first year that you turn 65 remains the highest amount that you will ever pay for those taxes.

What is principal residence exemption mean?

What Is the Tax Exemption for a Principal Residence? Individual owners of a home do not have to pay capital gains on the first $250,000 of value sold on a property. Married couples are exempt from capital gains tax on the first $500,000 in gains. Capital gains tax is owed for gains that exceed these numbers.

How much does a homestead exemption reduce your taxes in Texas?

Governor in 2015 the Homestead Exemption was $15,000 and, today, the exemption is $100,000, and $110,000 for seniors. In 2023, the $100,000 Homestead Exemption was permanently codified into the Texas Constitution when voters passed Proposition 4 with 83% of voters in support.

Do your property taxes go down when you turn 65 in Texas?

At the age of 65, seniors can apply for an exemption from Texas property taxes. If you are eligible for this exemption, instead of facing an annual property tax bill, your tax obligations will be frozen.

At what age do you stop paying school taxes in Texas?

The school tax ceiling, available to individuals 65 or older or disabled, ensures that the amount of school district tax owed does not increase even if the appraised value of your property rises. However, this limitation only applies to school taxes and does not prevent increases in other local taxes.

How long does it take for homestead exemption to take effect in Texas?

Check the Status of Your Application We strive to process exemptions as quickly as possible, but at times processing could take up to 90 days to process, per Texas Property Tax Code Section 11.45. Please allow at least 90 days to lapse before contacting our office to check when your application will be processed.

For pdfFiller’s FAQs

What is Homeowner’s Principal Residence Exemption Affidavit?

The Homeowner’s Principal Residence Exemption Affidavit is a legal document that allows homeowners to claim an exemption from property taxes on their primary residence, reducing the taxable value of their home.

Who is required to file Homeowner’s Principal Residence Exemption Affidavit?

Homeowners who occupy their property as their principal residence and wish to claim the property tax exemption must file the Homeowner’s Principal Residence Exemption Affidavit.

How to fill out Homeowner’s Principal Residence Exemption Affidavit?

To fill out the Homeowner’s Principal Residence Exemption Affidavit, homeowners need to provide personal information such as their name, address, and other identifying details, as well as confirm that the property is their principal residence.

What is the purpose of Homeowner’s Principal Residence Exemption Affidavit?

The purpose of the Homeowner’s Principal Residence Exemption Affidavit is to verify that a property is the primary residence of the homeowner, allowing them to receive a tax benefit that reduces their property tax obligations.

What information must be reported on Homeowner’s Principal Residence Exemption Affidavit?

The information that must be reported includes the homeowner's name, address of the property, date of occupancy, and confirmation that the property is the homeowner's primary residence.