Principal residence exemption for property tax has always been a challenge for home buyers. Having two times in the year when a buyer can claim a purchase as their principal residence is a great benefit for our housing industry.
Senate Bill 349 now heads over to the House for consideration. The MAR greatly appreciates the hard work that was put forth in crafting this legislation, and is pleased that Senators on both sides of the aisle unanimously supported its passage. The MAR will continue to keep the membership updated as this bill makes its way through the legislative process.
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