Pat Dougherty

Broker Associate

KELLER WILLIAMS REALTY

First Atlanta

 404-574-2490

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HOMESTEAD EXEMPTION - DO I QUALIFY?

When tax time rolls around, there is a beneficial exemption available to Georgia homeowners. The Homestead Exemption provides the homeowner a reduced tax provided that:

• The home is occupied by the homeowner on January 1, and
• The homeowner applies for the Homestead Exemption with the county in which the property is located

In most counties you can file between January 1 and June 1 but in all circumstances, the homeowner must occupy the home on January 1.

A homestead exemption is very important for you, for it may mean you have to pay less taxes on your property. In the State of Georgia, taxable value is calculated by taking 40% of the assessed value of your homestead. The exemption reduces the taxable value by $2,000, thereby lowering your tax obligation. There are, however, a few notable exceptions to homestead exemption:

• You are not exempt from school taxes levied by municipalities
• You are not exempt from paying interest on and retiring bond debts

To be granted homestead exemption, you must file an application with the tax commissioner's office in your county by a certain date. In some counties the tax assessor's office has been designated to receive applications for Homestead Exemption. Please check with your county before going to file.

Generally, the deadline for filing an application is June 1st, but there are exceptions:

• Counties with installment billings have an application deadline of May 1st, or a different date that has been established by a local Act
• Counties having a population of 81,300 to 89,000 have an application due date of March 1

Please check with your county officials to confirm your filing deadline.

Also, in most cases once you file for homestead exemption you do not have to file again as long as you occupy the home. For example, if you file for homestead exemption for the 2002 tax year, you do not have to do so in 2003. This may not be the case for all counties; you are encouraged to check with your local tax commissioner to see if your county has automatic renewal.

For a homestead exemption application,  

Keller Williams Realty encourages you to contact your local county tax commissioner or tax assessor's office or visit their website to confirm the filing details for your county and take full advantage of this valuable exemption. County phone numbers and websites are listed below; to visit your county's website, click on the county name.