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The homeowners' exemption allows an owner to reduce property tax liability on a dwelling which is occupied as the owner's principal place of residence as of 12:01 a.m. on the lien date (January 1). The maximum exemption is $7,000 of the full value of the property. Once granted, the homeowners' exemption remains in effect until such time as:
- Title to the property changes;
- The owner no longer occupies the dwelling as his or her principal place of residence on the lien date; or
- The property is otherwise ineligible.
The Board and county assessors are charged with the responsibility of ensuring that the homeowners' exemption is properly administered. The clearinghouse program administered by the Board for the homeowners' exemption is commonly referred to as the Homeowners' Exemption Match and Multiple Claims Listing.
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