What is a residential homestead exemption?
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- Published on Monday, 15 October 2012 08:31
A homestead exemption removes part of the value from the assessed value of your property and lowers your property taxes. The General Homestead Exemption is available to taxpayers who own and reside in the home as of January 1st of the year. In limited circumstances, property owners may be eligible to claim an exemption early, for a partial year, if the previous owner did not claim an exemption on the property in the same year.