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How much will it cost the taxpayers?

One mill equals $1 for every $1,000 of assessed value, minus the $25,000 homestead exemption.  For example, a home with a value of $300,000 with a $25,000 homestead exemption will pay $275 a year, or about $23 a month. Renters do not pay property taxes directly, but could result in landlords increasing rent.