What is the difference in taxes if a property does not have a Principal Residence Exemption?
A Principal Residence Exemption allows for 18 mills of State School Tax to be exempted from taxation. The amount actually levied may be slightly less depending on rollback formulas. Using the above example, in 2004 a non-homestead property would have $7,292 in taxes. The millage rate would have been 72.197.
Related Questions
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- What is the difference in taxes if a property does not have a Principal Residence Exemption?
