Public Act 105 of 2003
Public Act 105 of 2003 has made many changes to homestead exemption, now called PRINCIPAL RESIDENCE EXEMPTION.
The State Department of Treasury estimates that the School Aid Fund is losing $50 million per year due to fradulent exemption claims. The State is working with the County Treasurers to assist in determining who may have a duplicate homestead or invalid exemption claim. In addition to Michigan Assessors, the County Treasurers now have the right to deny Principal Residence Exemption (formerly homestead exemption) to taxpayers.
There is a one-time amnesty period from now through November 1, 2003, which gives those that have received the exemption in error the opportunity to pay without penalty and interest.
Any taxpayer found to have an invalid homestead exemption will be billed for the unpaid school operating taxes, plus 4 percent administrative fee, and 1.25 percent interest per month (15 percent per year) from the date of the original bill.
Inquiries should be made to your local township, village, or city assessor if you have any concern that you may be receiving a homestead exemption that you should not. You may also contact my office at 517 788-4418.
Janet C. Rochefort
If you have any other questions contact the Jackson County Treasurers Office at (517) 788-4418.