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What effect did passage of Amendment One and “recapture” have on the 2008 homestead assessments?

April 26, 2017Amendment assessments homestead Passage recapture

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What effect did passage of Amendment One and “recapture” have on the 2008 homestead assessments?

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323,105 homesteaded properties saw their just values drop but their assessed value increase due to the recapture law. 29,652 of those properties number saw an overall increase in their taxable value (measured by county taxable value). 370,658 homesteaded properties saw their overall taxable values decrease due to the new second $25,000 Homestead Exemption. 10,498 homesteaded properties saw no change to taxable value — mostly due to being fully exempted properties with zero taxable value in 2007 and 2008.