Author: chrisshumate.com

Have you recently purchased a home, or are you a homeowner currently occupying your home as your primary residence? If so, you will want to learn more about the homestead exemption options. Many homeowners may not know the exemptions, and they may not realize that they could qualify.

Below, you’ll learn more about Georgia homestead exemptions, how and where to apply, and how it could help save some money for those who qualify.

What Is the Georgia Homestead Exemption?

This type of exemption can help to reduce the amount of property taxes you owe on your legal residence. When you apply and qualify, there is a chance you could see some tax breaks on your property taxes. Saving money on your taxes is always a benefit.

Where and When Do You Need to Apply?

To apply, you will need to file in the county or city where your home is located. It’s important to keep in mind that each county will have different documents that are required and different applications to complete.

Are You Eligible

Before you can file, though, you need to be sure that you are eligible. To qualify, you need to have owned the property as of January 1 the year you want to apply. Additionally, the home needs to be considered your legal residence for all purposes. You need to occupy the home, meaning you will not qualify for an exemption if it is an investment property you are renting out to tenants.

What if you are not in the home because of health reasons? Fortunately, someone away from their home due to health issues will still be capable of getting the homestead exemption if they qualify otherwise. In those cases, a friend or a family member can contact the tax commissioner, and the exemption can be provided.

There is another thing to keep in mind regarding eligibility. You can’t already claim a homestead exemption for any other property in Georgia or another state. If you have homes in other areas of the state, you can’t try to claim it since it would mean one of those properties is not your primary residence.

Get Documentation Together

Once you are certain you are eligible, you will gather all of the documentation required by your city or county. Be sure to check with your specific county. Some of the types of documentation you will likely need to include are the property address, homeowner’s name, parcel I.D. for the property, proof of residency, and recorded deeds (at least for new owners if the county records aren’t yet up to date). Pay attention to the requirements in your location and provide everything needed.

Filing the Application

When it comes time to file, you need to file it with your county tax officials. Get in touch with them beforehand to find out how they want the application.

Here’s some good news. Once you are approved, the exemptions are typically automatically renewed each year. However, this is only true when the house is occupied by you and under the same conditions. Remember, you can’t turn it into a rental property and try to get the Georgia homestead exemption.

You need to apply by April 1 at the latest. If the application does not get into the office before then, it will not be granted until the following calendar year.

Types of Georgia Homestead Exemption

As mentioned, there are multiple types of homestead exemptions in Georgia. You will want to determine which of these you are eligible for and which one will make the most sense to you. These differ from the standard exemption discussed above. Let’s look at a few of these options below.

Exemption for People 65 and Older

If someone 65 and above’s (and their spouse’s) income was $10,000 or less in the previous year, they could claim a $4,000 exemption from all county ad valorem taxes. Income from sources of retirement funds is excluded up to the max amount paid to the individual and their spouse under the federal Social Security Act.

Disabled Veteran or Surviving Spouse Exemption

Disabled veterans can receive an exemption of $60,000 plus an additional sum determined by the index rate set by the U.S. Secretary of Veteran’s Affairs.

Surviving Spouse of U.S. Service Member

An unmarried surviving spouse of a member of the U.S. military who died as the result of armed conflict or war can be granted a homestead exemption from all ad valorem taxes for the county, as well as municipal and school purposes for $60,000 and an additional amount set by the U.S. Secretary of Veteran’s Affairs.

Surviving Spouse of Peace Officer or Firefighter

If there is an unmarried surviving spouse of a peace officer or firefighter who is killed in the course of their job, they can be granted a homestead exemption for the full value of the home for as long as they occupy the residence.

Above are some of the various types of homestead exemptions in Georgia. For the vast majority of people, though, the standard homestead exemption will be the one that is chosen. It applies to a lot of new homeowners, as well as people who have been in their homes for a while.

Get in Touch

If you think you could qualify for Georgia homestead exemption, you will want to apply. For more information visit: https://dor.georgia.gov/property-tax-homestead-exemptions. If you have any questions please contact us or visit our site.

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