How does Michigan's Principal Residence Exemption (PRE) work for new Grand Rapids homeowners?

Michigan's Principal Residence Exemption (PRE) is a homestead tax exemption that removes 18 mills of school operating tax from a homeowner's primary residence. For a $300,000 Grand Rapids home, that translates to roughly $1,500 to $2,800 in annual property tax savings, depending on the school district and any local supplemental millages. The PRE is one of the most consequential paperwork moves a new Grand Rapids buyer makes — and one of the most commonly missed. To claim the exemption, the homeowner must file Michigan Department of Treasury Form 2368 (Principal Residence Exemption Affidavit) with the local assessor by June 1 to qualify for that summer tax bill, or by November 1 for the winter bill. Miss the deadline and the home is taxed at the non-homestead rate for the year, costing a typical Kent County buyer $1,500–$2,800 in unnecessary tax — a frequent and avoidable closing surprise.