Georgia Property Tax Exemptions You Need to Know About

Georgia Property Tax Exemptions You Need to Know About

Property taxes are a significant part of homeownership, but Georgia offers a variety of tax exemptions that can help homeowners save money. These exemptions are designed to reduce the taxable value of your property, leading to lower property tax bills. In this guide, we’ll explore the most important property tax exemptions available in Georgia, who qualifies, and how to apply.

Homestead Exemption

The homestead exemption is the most commonly used property tax exemption in Georgia. It allows homeowners to reduce the taxable value of their primary residence by $2,000, providing significant savings on annual property taxes.

Eligibility Requirements:

• The property must be your primary residence.
• You must apply for the exemption before April 1 of the tax year in which you wish to claim it.

How to Apply:

Homeowners can apply for the homestead exemption by submitting an application to their county tax assessor’s office, along with proof of residency.

Senior Citizen Exemptions

Georgia offers additional property tax relief for senior citizens (age 65 and older). These exemptions can reduce or even eliminate certain property taxes, particularly school taxes, in some counties.

Types of Senior Exemptions:

• School Tax Exemption: Many counties in Georgia offer an exemption from school taxes for senior citizens, which can lead to substantial savings.
• Additional Homestead Exemption: Some counties provide an extra reduction in the taxable value of your home for seniors.

Eligibility:

To qualify, you must be 65 years or older and meet any income requirements that your county may impose. Be sure to check with your local tax assessor for specific details.

Disabled Veterans Exemption

The disabled veterans exemption provides substantial property tax relief for veterans with a 100% service-connected disability. This exemption can reduce the taxable value of a veteran’s home by up to $100,896, providing significant savings on property taxes.

Eligibility Requirements:

• Veterans must have documentation from the U.S. Department of Veterans Affairs confirming a 100% disability.
• The property must be the veteran’s primary residence.

How to Apply:

Veterans can apply for this exemption by submitting the necessary documentation to their county tax assessor’s office.

Other Property Tax Exemptions in Georgia

Georgia offers a variety of other property tax exemptions that homeowners may qualify for:

• Surviving Spouse of a Service Member Exemption: Available to the un-remarried surviving spouse of a U.S. service member killed in action.
• Disabled Persons Exemption: Provides tax relief for homeowners who are totally and permanently disabled.
• Floating Homestead Exemption: Available in some counties, this exemption provides relief when property assessments increase significantly from year to year.

How to Apply for Property Tax Exemptions

Applying for property tax exemptions in Georgia is a straightforward process, but it’s important to submit your application before the April 1 deadline to ensure you receive the benefit for the current tax year. Follow these steps to apply:

1. Gather Required Documents: You’ll need to provide documentation proving your eligibility, such as proof of age, disability, or residency.

2. Submit the Application: Applications can be submitted online, by mail, or in person at your local county tax assessor’s office.

3. Wait for Approval: Once submitted, the county will review your application and notify you of the outcome.

Frequently Asked Questions About Property Tax Exemptions in Georgia

What is the basic homestead exemption in Georgia?

The basic homestead exemption reduces the taxable value of your primary residence by $2,000, resulting in lower property taxes.

Are there any income limits for property tax exemptions in Georgia?

Some exemptions, such as certain senior citizen exemptions, may have income limits. Check with your local tax assessor for specific requirements.

How do I qualify for senior citizen property tax exemptions?

To qualify for senior citizen exemptions, you must be 65 years or older and meet any income requirements that may apply in your county.

Can I claim multiple exemptions at once?

Yes, it is possible to claim multiple exemptions, such as the homestead exemption and the disabled veterans exemption, if you meet the eligibility criteria for each.

What is the deadline for applying for property tax exemptions in Georgia?

The deadline to apply for property tax exemptions is April 1 of the tax year in which you wish to receive the exemption.

Conclusion

Georgia offers a variety of property tax exemptions that can help homeowners reduce their tax burden. Whether you qualify for the basic homestead exemption, senior citizen exemptions, or the disabled veterans exemption, taking advantage of these programs can lead to significant savings.

For expert guidance on property tax exemptions and other real estate needs in Georgia, contact Gold Peach Realty at (770-283-1223) or visit us online at www.goldpeachrealty.com.