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Homestead Market Value Exclusion
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The Market Value Exclusion reduces the taxable market value for property classified as homestead. By decreasing the taxable market value, net property taxes are also decreased. For more information about homestead, see Homestead Classification.
Note: For taxes payable in 2024 the maximum exclusion amount is $30,400 for properties valued at $76,000, with no exclusion for properties valued over $413,800.
For taxes payable in 2025 the maximum exclusion amount was increased to $38,000 for properties valued at $95,000, with no exclusion for properties valued over $517,200. Manufactured homes may be eligible for the larger exclusion for taxes payable in 2024.