单词 | homestead exemption |
释义 | homestead exemptionDefinition Portion of a home's assessed value that is exempt from property taxes. For example, if a home is assessed at $300,000 and the homestead exemption in that state is $25,000, then that would only allow $275,000 to be used as the assessed value for property tax purposes. This will essentially bring down the tax burden placed on the individual. Most jurisdictions only allow a primary residence to receive this exemption. |
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