What is homestead exemption?
Homestead exemption is a constitutional guarantee that reduces the assessed value of residential property up to $25,000 for qualified permanent residents.
What is the additional homestead exemption?
Amendment 1 passed in January 2008 providing for an additional homestead exemption of up to $25,000 to home owners whose homes have an assessed value of more than $50,000. This additional exemption does not apply to the school board millage.