Property Transfer Affidavits

The Property Transfer Affidavit is used by the Assessor to ensure the property is assessed properly and received the correct taxable value. The Michigan Constitution limits how much a property’s taxable value can increase while it is owned by the same person. Once the property is sold or transferred, the taxable value is adjusted to equal the SEV the year following the sale.

The Property Transfer Affidavit is required to be filed by law under MCL Section 211. The law also states this form must be filed within 45 days of the transfer of ownership or a penalty of $5.00 per day up to a maximum of $200.00 would apply. To avoid penalties, it is recommended the form be filed immediately after the purchase of a property.

There are certain types of transfers of property that are exempt from adjustment. A full description can be found in MCL Section 211.27a(7)(a-m). An abbreviated list can be found on the front of the form.
 

Principal Residence Exemption

If you own and occupy your Principal Residence, it is exempt from a portion of your local school operating taxes. To claim an exemption, a Principal Residence Exemption Affidavit (Homestead Affidavit)  must be completed and filed with the Assessor by May 1^st. You must own and occupy your home by May 1st to be entitled to receive this exemption for the current year. This "exemption" is for a part of the taxes and does not affect your assessment. Those who do not file or who are not qualified to file a Principal Residence exemption pay an additional 18 mills per thousand of taxable value.

There are two forms which are filed that deal with the Principal Residence Exemption. The first is filed by the homeowner and is called the Principal Residence Exemption Affidavit. The second form is filed by the previous owners and is called Request to Rescind/Withdraw Principal Residence Exemption. Instructions for filing both of these forms are found on the back of the form. The original is required to be filed with the Assessor as required by the State. The form should be completely filled out as blank spaces will result in delaying the filing of the form.

Conditional Rescission of Principal Residence Exemption

        Beginning in 2009 the State of Michigan adopted the conditional rescission form that can be filed three
          for three years.  This would enable a homeowner of two homes in the State of Michigan to receive the
          Principal Residence Exemption on two homes at the same time.  There are conditions that must be met in
          order to receive the exemption.  To obtain the form and instructions click on Conditional Rescission