Property Tax Benefits for Residential Properties

Changed from amending Section 6 of Article VII to amending Sections 3 and 4 of Article VII, indicating a complete restructuring of the tax exemption framework

Added municipal property exemption for property owned and used exclusively for municipal or public purposes

Added personal property exemption for household goods (minimum $1,000) and for widows, blind, or disabled persons (minimum $500)

Added community and economic development tax exemptions for new and expanding businesses, requiring voter referendum approval

Added historic preservation tax exemptions for owners of historic properties, with limits specified by general law

Added tangible personal property tax exemptions including $25,000 exemption and solar/renewable energy device exemptions

Removed the original homestead exemption language that authorized exemptions for permanent residence property with specific dollar amounts

Added requirement that business development exemptions expire ten years from voter approval and may be renewed by referendum