Property Ownership
Michigan's Homestead Property Tax Exemption (PRE) is available only to owners who:
AHave owned the property for at least 5 years
BOccupy the property as their principal residence✓ Correct
CAre senior citizens over age 62
DHave a household income below a specified threshold
Explanation
Michigan's PRE is available to homeowners who occupy the property as their principal residence. It exempts the property from the 18-mill school operating tax.
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