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Miscellaneous

What is the homestead exemption?

1 Answer

A homestead exemption exempts part of the taxable value of a home when the owner occupies the property. For example, a home with a taxable value of $100,000 with a homestead exemption of $25,000 would be taxed at a value of $75,000. A $100,000 not lived in by the owner would be taxed at $100,000.

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