If you double dip your nacho chip at a party, that's a breach of etiquette. If you double dip on your Principal Residence Exemption, well, that's a breach of law. Over the last three years, more than 33,000 Michigan homeowners have been caught double dipping (Ms. Manners is aghast). State officials estimate that cheaters cost Michigan a tax shortfall of about $20 million per year. To qualify for the Michigan Principal Residence Exemption, a homeowner must:
Be a Michigan resident.
Own the home and live in it as a principal residence.
File an affidavit with the local assessor by May 1 of the tax year.
Not rent the property.
Not claim any other property as exempt.
Promise never to dunk their carrot stick back into the vegetable dip after taking a bite (OK, I made this one up. Just wanted to make sure you were paying attention).
In addition, a married couple must file separate income taxes and actually live apart most of the time in order for each to claim a homestead exemption.
No comments:
Post a Comment