Have You Filed?
Do You Qualify?
If you bought a new home in 2021 that is your primary residence, then this is for you!
What Is A Homestead Exemption?
A homestead exemption is a tax break that Georgia offers to its residents on their primary residences.
Per the state of Georgia: Generally, a homeowner is entitled to a homestead exemption on their home and land underneath provided the home was owned by the homeowner and was their legal residence as of January 1 of the taxable year. (O.C.G.A. § 48-5-40)
How Do I Apply?
You file your homestead exemption with your county’s tax commissioner in most cases. Some counties have their tax assessors handle it instead.
Could It Get Even Better?!?
There are additional benefits available to certain people. You may qualify for additional exemptions if:
- You’re over 65 and both you & your spouse did not have more than $10,000 in income last year
- (If you live in Walton County, they give ALL residents 65 and over a tax break, regardless of income - but this is a special Walton County perk!)
- You are a disabled veteran (or a surviving spouse)
- And wait, I’m not done! ALL Georgia homeowners have the chance to file for a standard homestead exemption on their primary residence, but certain counties sweeten the deal!
Homestead Valuation Freeze Exemptions
Constitutionally, Georgia allows counties to have unique local homestead exemptions. Multiple counties have a special exemption that freezes the property valuation at the base year valuation for as long as the homeowner keeps that property as their primary residence. Their taxes will continue to be based on the original valuation even as the property values increase around them! Sounds too good to be true, right?!
Each county can decide which taxes this applies to: county, school, municipal, etc. Check with your county! Here are a few of our local counties that have a Homestead Valuation Freeze Exemption:
Want to learn more? Here’s a great start - or give me a call!!