Tag: property tax
Department of Treasury reminds Michiganders that Principal Residence Exemption doesn’t expire
The Michigan Department of Treasury is reminding Michiganders that a Principal Residence Exemption – known as a PRE – does not expire. Inaccurate posts being shared on social media are claiming that Michigan taxpayers will experience a surge in property...
Understanding written instruments and transfers of property exempt from tax
The Michigan State Real Estate Transfer Tax Act of 1993 outlines various exemptions from the tax it imposes on written instruments and property transfers: 1. Instruments where the consideration is less than $100.2. Instruments not wholly performed within the state...