To qualify for a principal residence exemption, an owner must live in the property and file the principal residence exemption form by the end of the business day June 1. If the current tax bill has 100% in the “% declared as PRE” box on your summer tax bill, then the principal residence exemption has been filed. If you move in after June 1, you have until November 1, by the end of the business day, to file your principal residence exemption affidavit, for the winter tax levy.
A person with an established Principal Residence Exemption (PRE) to retain that PRE while on active duty in the United States armed forces if the principal residence is rented or leased. Property that currently qualifies as a principal residence continues to qualify for three years after any portion of the dwelling or unit included in, or constituting the principal residence, is rented or leased to another person and is used as a residence. All of the following conditions must be satisfied:
- The owner of the dwelling or unit is absent while on active duty in the armed forces of the United States.
- The dwelling or unit would otherwise qualify as the owner’s principal residence.
- The owner files Form 4660 with the assessor of the local tax collection unit on or before June 1 attesting that he/she intends to occupy the dwelling or unit as a principal residence upon completion of active duty in the United States armed forces.