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If the previous homestead is qualified for both a homestead exemption and an agricultural classified use assessment, how is the amount of transfer to be calculated?

April 26, 2017Agricultural assessment calculated Classified homestead previous qualified transfer

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If the previous homestead is qualified for both a homestead exemption and an agricultural classified use assessment, how is the amount of transfer to be calculated?

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The amount eligible for transfer is equal to the reduction in value due to the SOH exempt value. Therefore, the difference eligible for transfer is equal to the difference between market and assessed value on the homestead portion of the property.