Form 2620 - Request To Rescind Principal Residence Exemption (Pre) Page 2
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1
2Instructions for Form 2602,
Request to Rescind Principal Residence Exemption
General Instructions
Line 12. If you own and live in a multiple-unit or
multi-purpose property (e.g. a duplex or apartment
This form enables people who are selling or converting
building, or a storefront with an upstairs flat), you can claim
their home to another use to rescind their exemption. It also
an exemption only for the portion that you use as your
enables people to change the percentage that they occupy as
principal residence. Calculate your portion by dividing the
their principal residence.
floor area of your principal residence by the floor area of the
Interest and Penalty. If it is determined that you claimed
entire building.
property that is not your principal residence, you may be
If the parcel of property you are claiming has more than
subject to the additional tax plus penalty and interest as
one home on it, you must determine the percentage that
determined under the Property Tax Act.
you own and occupy as your principal residence. A second
Line-by-Line Instructions
residence on the same property (e.g. a mobile home or second
Lines not listed here are explained on the form.
house), is not part of your principal residence even if it is not
Property Information
rented to another person. Your local assessor can tell you the
assessed value of each residence to help you determine the
Line 1. Property is identified with a property tax
percentage that is your principal residence.
identification number. This number will be found on your tax
If you rent part of your home to another person, you may
bill and on your property tax assessment notice. Enter this
number in the space indicated. If you cannot find this number,
have to prorate your exemption. If your home is a single-family
dwelling and the renters enter through a common door of your
call your township or city assessor. Submit a separate Form
living area to get to their rooms, you may claim 100 percent
2602 for each exemption being rescinded. Your property
exemption if less than 50 percent of your home is rented to
number is vital; without it, your township or city cannot adjust
others who use it as a residence. However, if part of the home
your property taxes accurately.
was converted to an apartment with a separate entrance, you
Lines 2-5. Enter the complete property address of the
must calculate the percentage that is your principal residence,
exemption you are rescinding. Check the appropriate box for
by dividing the floor area of your principal residence by the
the city or township. If you live in a village, list the township
floor area of the entire building.
in which the principal residence is located.
Line 13. Enter the date that the change(s) indicated on lines
Lines 6-10. Enter the name, Social Security Number(s) and
11 and 12 above became effective.
daytime telephone number of the legal owner(s). Do not
Line 14. Select the appropriate box.
include information for a co-owner who does not occupy
Line 15. If this rescission is being done because of a change
the principal residence.
in ownership, list the new owner and, if applicable, co-owner
Note: The request for the Social Security Number is
on the appropriate lines.
authorized under section 42 USC 405 (c) (2) (C) (i). It is used
Certification
by the Department of Treasury to verify tax exemption claims
and to deter fraudulent filings. Any use of the number by
Sign and date the form. Enter your mailing address if it is
closing agents or local units of government is illegal and
different from the address on line 3.
subject to penalty.
Mailing Information
Change an Existing Exemption
Mail your completed form to the township or city assessor in
You are required to rescind a principal residence exemption
which the property is located. This address may be on your
when you no longer own and occupy the property as
most recent tax bill or assessment notice. Do not send this
your principal residence. The exemption will be removed
form directly to the Department of Treasury.
December 31st of the year you rescind the exemption.
If you have any questions, visit
Line 11. Check the box(es) that most accurately reflects
or call (517) 373-1950.
reason you are rescinding your exemption.
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