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The New Homestead Exclusion <br />• Property tax relief will now be delivered by <br />excluding a portion of each qualifying home's <br />market value from taxation. <br />• Eligibility for the exclusion mimics the existing <br />MVHC program. <br />—Homes up to $76,000 in total market value receive <br />maximum exclusion. <br />— Amount of exclusion decreases as home values <br />grows until exclusion is fully phased -out for homes <br />valued at over $413,800. <br />