Principal Residence Exemption Affidavit
The Principal Residence Exemption excuses 18 mills of local school operating tax on the owner’s principal residence. Second homes, cottages, and rental properties are not eligible to receive the exemption and must pay the 18 mills of school operating tax.
Commercial and Industrial properties must pay the 18 mills
Homeowner's Principal Residence Exemption Affidavit is the most commonly used form. This form is to be used when there is not an existing exemption in place, such as a newly built home, or a home, which was recently purchased by a new owner.
to Rescind Homeowner's Principal Residence Exemption is used to rescind
an exemption on a property that you no longer occupy as your principal residence
Agricultural property is also exempt from the 18 mills of
school operating tax. To be
eligible, the property must have 50% of its land area devoted to an agricultural
use. To receive the exemption, the
owner must file the CLAIM FOR FARMLAND EXEMPTION FORM (T-1063).