What is the Principal Residence Affidavit and what happened to the homestead exemption?
To claim a residential home as your ‘principal residence’, you must occupy the home to be eligible for exemption from the school operating millage on your taxes. This exemption was formerly called the ‘Homestead Exemption’ and is now called the ‘Principal Residence Exemption’ so as not to be confused with the Michigan Homestead Credit that is filed with your income tax return.
