Transfer Of TitleTaxesMEDIUM
Michigan's Principal Residence Exemption (PRE) provides:
Correct Answer
B) Exemption from the 18-mill school operating tax
The Principal Residence Exemption exempts homeowners from the 18-mill school operating tax on their primary residence.
Answer Options
A
Complete property tax exemptionB
Exemption from the 18-mill school operating taxC
Reduced assessment valueD
No property tax benefitsAudio Lesson3 min
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Related Topics & Key Terms
Related Topics:
property-tax-calculationhomestead-exemptionassessment-process
Key Terms:
Principal Residence ExemptionPRE18-mill school operating taxProposal AMCL 211.7cc
Related Concepts
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
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