How big of an impact is losing the homestead exemption?

ADU's must be exempt ?

What the gurus dont mention is the 500k tax free exemption for married couples.. 

They were able to get themselves some regulatory exemptions.

Most successful investors here are the exemption.

Every time a corporation contributes heavily to a campaign to get a seat at the advising panel that recommends the wording of policy in order to create a loophole or a subsidy or an exemption, they're good businesspeople.Every time a high net worth individual declares his income as part of a trust inside an S-corp inside four or five LLCs, structures himself and his businesses like a pretzel, creates four or five highly questionable writeoffs to avoid paying out a penny more in taxes than he absolutely has to, he's really just "sheltering his assets."

You have to register the property and then apply for an exemption.

He also doesn't want to loose the exemption from taxes as it will be sold soon (personal residence)..

There are however exemptions! 

My real estate agent thinks that if I sold it now, I would net close to $400K, and we could take advantage of the tax exemption since it was our primary residence.The house was built in 1921, and is in good shape, but not restored.