Residential Exemption on rental property...

[Matthew Turner]

Like the description says... I still have the $2800/yr tax break on a property I have been renting for 2 years from a Residential exemption filed when I was still living in the property. I don't want to get on the wrong side of the law - wanted to ask some pros what the right thing to do here is. Do I contact the City and pay back the $5600 I was exempted from in 2018/2019? Or is this a similar situation to interest rates, where you get a better rate for a residence vs investment and if you move out, the rate still is the better one (wishful thinking probably).

side note - I'm a bit surprised there is no check in the system(s) when I converted to rental that the residential exemption get removed. There is also a strong chance I move back into the property in the next few months, if that makes any difference.

Thanks all!