The homestead exemption is more correctly known as the Principal Residence Exemption (PRE). The qualifications are simple; you must own and occupy the home as your principal residence on or before June 1st. A person or a married couple is allowed only one PRE in the state. You may not claim an exemption in any other state. The exemption continues until the use of the home as your principal residence changes.
When the change occurs, you must notify the Assessor’s Department in writing. Proposal A and state law does not allow for partial credit. As an example, even if you move into a non-homestead property on June 5th, the exemption does not begin until the following year. Recent legislation has allowed the granting of a second homestead in certain conditions. The “Conditional Rescission” is available when the previous homestead is not occupied or rented and is listed for sale. Please contact the Assessing Department at 269-329-4433 if you think you qualify for the additional exemption.