(AV) equals half of the usual selling price (also referred to as the “True Cash Value”. Each school district receives a per pupil allotment from the state that is funded by the increase in sales and other taxes.The Constitution was amended to exempt school taxes from the uniformity provision of the Constitution and any increase in school operating taxes now requires a 3/4 vote of both houses of the legislature.Real estate transfer taxes were increased. Taxes were increased on alcohol and tobacco. A statewide 6-mill State Education Tax was levied on all property. Michigan Sales tax was increased from four (4) to six (6) cents per dollar.To learn more about Taxable Value, click here. Principle residence property and qualified agricultural property are exempt from the 18 mills.School operating property taxes were reduced to 18 mills.The primary components of Proposal A are: In March of 1994, the voters approved Proposal A which replaced most of the school property taxes with an increase in the sales tax from four (4) to six (6) cents per dollar. MCL 211.7dd© defines a principal residence as the “… place where an owner of the property has his or her true, fixed, and permanent home to which, whenever absent, they intend to return and that shall continue as a principal residence until another principal residence is established.”A principal residence also includes the owner’s adjoining, vacant land that is classified as residential or timber-cutover. Click here for the Principal Residence Exemption form. The Principle Residence Exemption (PRE) is an exemption from 18 mills of local school operating millage for parcels that fall into the definition of a principal residence. What is a principal residence exemption (PRE) and how do I apply for one? This office does not write or record deeds for you. Click here for a Property Transfer Affidavit. This affidavit must be filed by the new owner with the assessor’s office within 45 days of the transfer. You will need to file a Property Transfer Affidavit (form 2766) whenever real estate or some types of personal property are transferred, even if you are not recording a deed. What forms do I need to file with the township? I just bought some property in the township.
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