Reduction of Assessed Value

Reduction of Assessed Value; Proposing amendments to the State Constitution to allow counties to reduce the assessed value of a homestead property for the portions of such property used as living quarters for the property owner’s parent or grandparent who is 62 years of age or older and to remove current provisions limiting the exemption to increases in assessments resulting from construction or reconstruction of such living quarters and limiting the amount of such exemption, etc.