Is there a tax break available to full-time residents?
A. Yes, State Law provides for a 4 percent property assessment ratio on primary residences. Effective for property tax years beginning after 2006 and to the extent not already exempt for Homestead purposes, one-hundred percent (100%) of the Fair Market Value of owner-occupied residential property eligible for and receiving the Special Assessment Ratio of 4% is EXEMPT from all property taxes imposed for school operating purposes but does not include millage imposed for debt purposes. This is an automatic exemption granted to homeowners who have qualified for and received the special assessment ratio of 4%.
