Property Valuation
In Maine, the homestead exemption reduces the assessed value of a primary residence by:
A$5,000
B$10,000
C$20,000✓ Correct
D$25,000
Explanation
Maine's Homestead Exemption reduces the assessed value of a qualifying primary residence by $20,000, thereby reducing the property tax bill for year-round Maine residents.
Related Maine Property Valuation Questions
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