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twitterHomestead protection hike sought
Monday, Jan. 8, 2001 | 10:26 a.m.
SUN CAPITAL BUREAU
CARSON CITY -- Because of the skyrocketing prices of homes, state Sen. Ann O'Connell said she will introduce a bill in the 2001 Legislature to boost the homestead protection exemption from $125,000 to $150,000.
The last time the amount was increased was in 1995. O'Connell, R-Las Vegas, calls her bill a cost-of-living adjustment.
"It's no big deal," she said.
For $7, a person can file the homestead exemption with the county, O'Connell said, adding that a person doesn't have to pay the $30 to $50 asked by firms advertising to do it.
O'Connell said homestead protection can help a person who falls into debt because of illness or other reasons. A lien can be filed against a the home, but the owner can not be moved out of the house. The exemption, according to the law, extends now only to $125,000.
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