Form 2602 - Request To Rescind Homeowner'S Principal Residence Exemption Page 2
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1
2Instructions for Form 2602,
Request to Rescind Homeowners 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 building,
This form enables people who are selling or converting their
or a storefront with an upstairs flat), you can claim an
home to another use to rescind their exemption. It also
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 you
determined under the Property Tax Act.
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
bill and on your property tax assessment notice. Enter this
If you rent part of your home to another person, you may
have to prorate your exemption. If your home is a single-
number in the space indicated. If you cannot find this
family dwelling and the renters enter through a common door
number, call your township or city assessor. Submit a
separate Form 2602 for each exemption being rescinded.
of your living area to get to their rooms, you may claim 100
percent exemption if less than 50 percent of your home is
Your property number is vital; without it, your township or
city cannot adjust your property taxes accurately.
rented to others who use it as a residence. However, if part of
the home was converted to an apartment with a separate
Lines 2-5. Enter the complete property address of the
entrance, you must calculate the percentage that is your
exemption you are rescinding. Check the appropriate box for
principal residence, by dividing the floor area of your princi-
the city or township. If you live in a village, list the township
pal residence by the 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 the
principal residence.
Line 15. If this recision is being done because of a change in
ownership, list the new owner and, if applicable, co-owner on
Note: The request for the Social Security Number is autho-
the appropriate lines.
rized under section 42 USC 405 (c) (2) (C) (i). It is used by
the Department of Treasury to verify tax exemption claims
Certification
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
A parcel which qualified for principal residence exemption
which the property is located. This address may be on your
and then the use changed or it was sold must be rescinded.
most recent tax bill or assessment notice. Do not send this
Complete this section to remove the exemption
form directly to the Department of Treasury.
effective December 31 of the year in which the change or sale
If you have any questions, visit our Web site at
occured.
or call 1-800-827-4000.
Line 11. Check the box(es) that most accurately reflects
reason you are rescinding your exemption.
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