Property Ownership
Michigan's Principal Residence Exemption (PRE) reduces a homeowner's school operating tax millage by applying the exemption to what percentage of the property?
A50%
B75%
C100%✓ Correct
DOnly the assessed value reduction
Explanation
Michigan's Principal Residence Exemption (PRE) provides a 100% exemption from the 18-mill school operating tax for a homeowner's primary residence, significantly reducing the property tax bill.
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