HOMESTEAD IS NOT THE ONLY STATE PROPERTY TAX EXEMPTION AVAILABLE IN GEORGIA – DO YOU KNOW THE OTHERS THAT COULD SAVE YOU MONEY?
Besides the Homestead Exemption and the need to file for it by April 1 of the year for which the application is made, there are many other property tax exemptions available in Georgia for certain homeowners.
Owners who are 62 and above, veterans and their surviving spouses and the surviving spouses of peace officers and firefighters may qualify for one or more of the following exemptions:
(1) Owners 65+ may qualify for a double homestead exemption, which reduces assessed value by $4,000. Net income (not including Social Security or pensions) cannot exceed $10,000;
(2) Owners 62+ whose income does not exceed $10,000 may exempt $10,000 of assessed home value from school taxes;
(3) Owners 62+ whose income does not exceed $30,000 for the previous year may be able to exempt property taxes on an increase in assessed value over a base value from the previous year;
(4) Owners 62+ whose income does not exceed $15,000 may be able to defer a portion of the tax with interest;
(5) Disabled veterans or their surviving spouses may get an exemption of $60,000 plus an additional index-based sum, and the surviving spouse of a veteran killed in conflict may get the same exemption;
(6) The surviving spouse of a peace officer or firefighter killed in the line of duty may get an exemption for the full value of the home.
Each of these exemptions or deferrals has specific timing, application and renewal requirements, and the owner who has been granted the exemption or deferral has the responsibility to notify the county if he/she ever becomes ineligible for the benefit.
The state offers these exemptions, but a county or city may offer additional and more beneficial exemptions and reductions. All exemption applications are filed with the county tax commissioner or the county tax assessor's office. Taxpayers should contact the tax commissioner or the tax assessor's office in their county of residence for more information about qualifying for property tax exemptions or deferrals.
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