New Home Owners that own property and make it his or her permanent residence or the permanent residence of his or her dependent, may be eligible to receive a Homestead Exemption that would decrease the property's taxable value and ultimately result in tax savings for the New Home Owner. In one recent year, Georgia gave each Home Owner that had filed and received the Homestead Exemption a FIVE HUNDRED ($500.00) Dollar credit toward their Ad Valorem Tax Bill.
Homestead Exemptions remove part of the home's value from taxation, and depending on the value of the home, could potentially save New Home Owners hundreds of dollars each year.
To be granted a Homestead Exemption, the New Home Owner must:
- Actually occupy the home, and
- The home must be considered their legal residence for all purposes.
When and Where to File Your Homestead Exemption:
Application for Homestead Exemption must be filed with the Tax Assessor's office in the County where the home is located. Usually, the Tax Assessor’s Office is located in the County Courthouse or County Administrative Building.
A New Home Owner can file an application for Homestead Exemption for their home and land from January 1st thru March 31st. To receive the Homestead Exemption for the current tax year, the new Home Owner must have owned the property on January 1st. Once filed, the Homestead Exemption is good for as long as the property is the permanent residence of the home owner. There is no need to file each year. Once and you are done.
Have Questions Regarding Homestead Exemptions?
Deadlines and procedures may vary by County. Contact your local Tax Assessor’s Office for application procedures and deadlines specific to your County.