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What is the Homestead or Homeowners Principal Residence Exemption?

April 26, 2017homeowners homestead Principal Residence

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What is the Homestead or Homeowners Principal Residence Exemption?

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Principal Residences are properties that serve as your principal home. State law grants a principal residence exemption from local school operating taxes for a principal residence and qualified agricultural properties. Currently this is a reduction of up to 18 mills of school tax.