Revenue and taxation; ad valorem; homestead exemption; additional homestead exemption; effective date.

Summary

The measure raises the standard homestead exemption to $2,315 and creates a second $2,315 exemption for heads of household earning $30,000 or less. Both exemptions will be adjusted for inflation every five years starting in 2032. It aims to reduce property tax burdens for all homeowners and especially for low‑income families.

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