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Assessment Cap for Non-Homestead Property

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Non-Homesteaded properties will have a 10% assessment cap (similar to Save Our Homes). Most residential properties will be assessed at just value when they are sold; commercial properties and residential properties with 10 or more units will be reassessed after a significant improvement has been made or a change in ownership occurs. This provision will not take effect until the 2009 tax roll and does not apply to school taxes.

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