Principal Residence Exemption Information:There are deadlines by which a Principle Residence Exemption must be filed. The deadlines for a property owner to file a PRE Affidavit (Form 2368) for taxes are on or before June 1st and on or before November 1st. You must legally own and occupy the home. Additional rules apply when selling your home, under certain conditions. The millage rate for qualifying property is approximately 18 mills less than non-qualifying properties. You must apply for this exemption.