Staff Analysis of the Legislation
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This bill, if approved in a state wide referendum, will provide a new homestead exemption for military service personnel who serve overseas in support of a military operation. The bill will affect state, county, school, and city ad valorem taxes. The percentage of the taxable value of a homestead that would be exempt from taxes would equal the percentage of the prior calendar year that the military member was on active duty overseas in a military operation. The most significant impact would be expected to occur in counties with high concentrations of active duty personnel. |