If you own and occupy your home as your principal residence by May 1st of the current year, you may be exempt from a portion of local school operating taxes by filing a Principal Residence Exemption form with the Assessor’s Office.
Principal Residence Exemption (PRE) Affidavit
If you change your principal residence, the law requires that you file a Rescission of Principal Residence Exemption form with the Assessor’s Office and file a new Principal Residence Exemption Affidavit form with the assessor in the unit in which your new principal residence exists.
Request to Rescind Principal Residence Exemption (PRE)
Starting in 2008, a homeowner can establish a new PRE on a second home AND keep the PRE on the first home for up to 3 years, as long as the first home is:
- Not occupied
- For sale
- Not being leased
- Not being used for any business or commercial purpose.
A form must be filed with the Assessor’s Office no later than May 1st after the PRE is claimed on the newly purchased home.
Conditional Recission of Principal Residence Exemption (PRE)
The owner must also re-file this form each year by December 31, to continue the exemption for up to two additional years if the property remains qualified.