2 ½% Owner Occupancy Tax Reduction
To receive the 2 ½% tax reduction, you must:
(1) Own the home; and
(2) Occupy the home as your principal place of residence.
The reduction applies to the home site and the home itself. It does not apply to:
(1) Rental homes or apartments;
(2) Homes occupied by someone other than the owner;
(3) Homes owned by corporations, partnerships, associations or groups;
(4) Units within a building primarily for retail, commercial or other non-residential purposes;
(5) Manufactured or mobile homes purchased prior to 2000; and
(6) Excess acreage over one acre.