Lodi Township, Michigan

Homestead Information

If you are receiving a principle residenct exemption and you sell your property or change the use and it is no longer your principal residence, you must rescind your principle residence exemption for the property.  Rescind forms are available at the township hall. If you have questions about principle residence exembtion contact State of Michigan Home Owner Information Another site for questions and answers about homestead exemption.

Property TransfersMichigan Law requires that a buyer of property shall report to the assessing officer a transfer of ownership and the amount of the transfer on a Real Estate Transfer Affidavit.  The affidavit must be filed within 45 days of the transfer.  If not filed timely a penalty of $5.00 a day (maximum $200) applies.  This form is used by the assessor to ensure the property is assessed properly and receives the correct taxable value.  The taxable value will uncap in the year after the property transfers.  In the years after that, the cap goes back on and increases in taxable value are limited to the lower of 5% or the Inflation Rate, which for 2005 is 2.3%.