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The homestead exemption is one of the very rare tax breaks homeowners have at their disposal. Forgetting or simply choosing not to file for exemption is just not utilizing all the tools that are available to homeowners. Its a tax exemption on the first $75 000 of the homes value. ( if home is valued at $100K, $75k is exempt which would mean homeowner would be taxed on $25 000 for state and parish property taxes.) Sounds like a great deal to me! Who wouldn't want their property taxes lowered?? The only pre-requisite is that owner must own and occupy the home as a main
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