The Prettiest Little City in The State of Michigan

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Current Information

PRE Tax Amendment

The amendment enables a person who has established a new principal residence to retain a Principal Residence Exemption (PRE) on property previously exempt as the owner’s principal residence that is not occupied and for sale by submitting a Conditional Rescission of Principal Residence Exemption Form #4640 (attached) 4620.Hmstd.2ndHouse The conditional rescission allows an owner to receive a PRE on his or her new property and on previously exempted property simultaneously if certain criteria are met. An owner may receive the PRE on the previous principal residence for up to three years if that property is not occupied, is for sale, is not leased, and is not used for any business or commercial purpose.

The opportunity to apply and qualify for a conditional rescission begins for the 2008 tax year and is not retroactive to previous tax years. To qualify for the conditional rescission in 2008, Form #4640 must be submitted to the assessor of the local unit of government where the property is located on or before May 1, 2008. For a conditional rescissiion in 2009, form #4640 must be submitted on or before December 31, 2008.

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