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2 <br />FINANCIAL IMPACT: The reduction in the County's tax base associated with approval of this <br />homestead exemption application will result in a reduction of 2002 taxes due to the County, <br />municipalities, and special districts in the amount of $1,068.50. <br />RECOMMENDATION: The Manager recommends that the application for 2002 homestead <br />exemption for the above referenced applicant be approved.