Definition: Property for which an exemption removes only part of the otherwise taxable value or applies to only some taxes. The remaining taxable amount is still subject to the applicable levy.
Example
An owner qualifies for a homestead exemption, but the tax bill still includes taxes on the remaining taxable value.
Keep the distinction clear
Different levies can use different exemptions. Partial exemption does not mean the same reduction applies to every tax or non-ad valorem assessment.
Related terms
Homestead (Florida) · Exempt Property · Taxable Value
Keep studying
Homestead Exemptions and Property-Tax Math
References: Florida Department of Revenue: the property tax system
Pronunciation (US): PAR-shuh-lee ig-ZEMPT PRAH-per-tee (capitals show stress)
Pronunciation reference: Merriam-Webster
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