During tax time, there is a beneficial exemption available to Georgia homeowners with new purchases. The Homestead Exemption reduces the taxable value of your home provided:
*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
You may only file once and it must be in the first year of residence. In most counties, the deadline for filing is between January 1 and June 1, but in all circumstances, the homeowner must occupy the home on January 1.
Beginning June 1, a homeowner may file an application for homestead exemption for their home and land acquired prior to January 1 of the taxable year up to and including March 1 of the taxable year.
A homestead exemption is very important for you as it may mean you have to pay less tax on your property. In the State of Georgia, taxable (or assessed) value is calculated as 40% of the fair market value of your property. The homestead exemption reduces the taxable value by a minimum of $2,000, thereby lowering your tax obligation. Homestead exemption amounts vary by county with many being well above $2,000.
The deadline for filing an application varies by county:
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 2004 tax year, you do not have to do so in 2005. 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.
Barrow County, 770-307-3106
Bartow County, 770-387-5111
Carroll County, 770-830-5848
Cherokee County, 678-493-6409
Clayton County, 770-477-3311
Cobb County, 770-528-8600
Coweta County, 770-254-2670
Dawson County, 706-265-2860
DeKalb County, 404-298-4000
Douglas County, 770-920-7272
Fayette County, 770-461-3652
Forsyth County, 770-781-2110
Fulton County & City of Atlanta, 404-730-6100
Gwinnett County, 770-822-8800
Hall County, 770-531-6950
Henry County, 770-954-2470
Newton County, 770-784-2020
Paulding County, 770-443-7581
Pickens County, 706-253-8882
Rockdale County, 770-929-4152
Spalding County, 770-467-4360
Walton County, 770-267-1474
|