The forms Michigan buyers and sellers file after a sale, with deadlines and penalties.
Michigan asks new and former owners to file a few forms after a sale. They go to your city or township assessor, not to the title company, and missing them can cost you money.
Treasury Form 2766
Tells the assessor the property changed hands. File it with the assessor for the city or township where the property is located.
Treasury Form 2368
Exempts your home from most school operating taxes if it is your primary residence. Vacation homes, seasonal homes and rentals do not qualify.
Treasury Form 2602 or 4640
If the home you sold was your principal residence, file a Request to Rescind (Form 2602) or a Conditional Rescission (Form 4640) with the assessor.
Treasury Form 2796
If you sold your principal residence and its SEV was not higher than when you bought it, you may be able to recover the state transfer tax.
Michigan caps how fast a property's taxable value can rise while one owner holds it. After a sale, the taxable value generally "uncaps" the following year and resets to the state equalized value (SEV), so a buyer's taxes can be noticeably higher than the seller's were. Ask the assessor for an estimate before you budget.
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