Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Mason Myers
0
Votes |
1
Posts

PRE (Principal Residence Exemption) Question

Mason Myers
Posted

Hello everyone! I bought the duplex I had been renting last December. I live in one unit and rent the other. I filed my PRE, and through my research I could go based on square footage which would mean about 63%. Double checked with my local office and they weren’t sure, so I filed my form at 63%. I just received my winter tax bill and see that PRE is marked at 100%. So my question is - did I miss something in research? Can I claim 100%? My worry is that someone just made a mistake and I’m going to have a fat bill come tax time, or this will eventually bite me. I received an escrow refund check but that was due to when I bought and the lender I went through, they way overstated taxes so that was expected. I wonder if a portion of that was due to the 100% PRE though which I don’t believe I’m entitled to.


Any advice is appreciated. Thank you for your time!

Loading replies...