Increase Homestead Property Tax Exemption Amendment
Plain-English Summary
A legislatively referred constitutional amendment that would raise the state's minimum homestead property tax exemption for qualifying homeowners (typically those age 65+ or permanently disabled) from $20,000 to $50,000 of assessed value.
What each outcome does
If approved, qualifying homeowners receive a larger property tax exemption ($50,000 instead of $20,000), reducing their property tax bill.
If rejected, the existing $20,000 homestead exemption remains in place.
Who is funding each side
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