Georgia law exempts some homeowners from paying property taxes and school taxes. Keep in mind that these laws apply to specific circumstances, and they do not apply to every Georgia homeowner, nor will they help every homeowner save money on taxes. However, many counties and localities provide tax exemptions that go beyond what the state allows.
People with disabilities and other particular demographics are eligible for additional tax breaks in certain counties. Also, several Georgia counties have an exemption that will maintain the property’s value at its current level for as long as the owner resides there.
Georgia residents are eligible for a standard homestead exemption:
Georgia provides homeowners with a standard homestead exemption. You must own your home outright and occupy it as your principal residence in order to be eligible for the Georgia tax exemption. You might be given a $2,000 tax deduction for county and school taxes if you meet the requirements.
Keep in mind that commercial or rented properties are not covered by homestead exemptions and will not help you save money on taxes by utilizing this option. As always, check with a tax attorney on specific details about your situation before making a firm commitment.
Tax exemptions for seniors
Georgia provides seniors with additional exemptions in addition to the typical homestead exemption. An owner who is 62 years of age or older and whose household income for the previous year did not exceed $30,000 may be qualified for a full exemption from state and local property taxes on any rise in home value. Only the portion of the property’s value that is identical to its value in the base year would be subject to taxation by the homeowner.
School taxes and bond obligations are not covered by this exemption. If you meet the requirements, you must submit your application by April 1 of the year. You don’t have to reapply if you have kept living in the same place.
Instead, following the year you applied, the exemption will be automatically renewed. If, however, for any reason, you are no longer qualified for the full exemption, you must inform your county.
A homeowner who applies and is 65 years of age or older may be granted a double homestead exemption. This exempts the home’s assessed value, up to $4,000, from state and local property taxes. A senior citizen who qualifies for the homestead exemption may be able to postpone paying their property taxes. The procedures for delaying your property taxes are intricate. Still, generally speaking, if you are granted a deferral, you can postpone paying your taxes until you sell the property or the amount of taxes you have already paid exceeds 85% of the value of your house.
School tax exemptions for senior Georgia homeowners
If you are a minimum of 62 years of age or older, reside in the home, and your net income, or the combined net income of you and your spouse, does not exceed $10,000, then, up to $10,000 of the assessed value of the home can be exempt from school taxes. Additionally, you must submit your application for the school tax exemption by April 1 of the applicable year.
Social Security benefits and pensions are not included as part of net income unless the pension exceeds the Social Security threshold.
Affidavits must be submitted to the county or city. The exemption is automatically renewed following approval. If, however, you are no longer qualified for the exemption, it is your obligation to provide notice.
Exemptions for disabled veterans and surviving spouses
A disabled veteran who is qualified is entitled to a $32,500.00 exemption on the value of their home or the maximum amount permitted under federal law. All ad valorem taxes for state, municipal, county and educational purposes are covered by this.
A surviving spouse who hasn’t wed again or their minor children may also come under the purview of this law. On properties with values higher than the exempt limit, taxes are still due.
Surviving spouses of US armed forces members
The maximum amount allowed by federal law, or $32,500, may be applied to the value of a surviving spouse’s house if that spouse was a member of the armed services, has not remarried, and died as a result of war or armed conflict. All ad valorem taxes for county, municipal, state and educational purposes are covered by this.
On properties with values higher than the exempt limit, taxes are still due. Despite the fact that this exemption renews automatically, eligibility documentation proving continued eligibility could be needed.
A peace officer’s or firefighter’s surviving spouse
The homestead exemption is given to the surviving spouse of a peace officer or firefighter who died in the course of duty and who has not remarried.
Know your rights
If you meet the requirements, you may submit an application for property tax benefits. You have the right to receive an exemption for as long as you are still qualified. Exemption requests must be submitted before the deadline, which is normally April 1st, in order to be considered for the current tax year. Any late filings will be applied to the following tax year.
Know your responsibilities
You must substantiate your eligibility for each tax advantage in order to receive it. The majority of tax exemptions renew automatically, but you must be able to substantiate that you are still qualified. If you are no longer eligible for a tax exemption, you must also give notice. You must submit a fresh application for the property tax deferral every year.
Your county’s rights and responsibilities
The county tax assessor may ask for proof of your application. If you can’t provide evidence that you qualify for the tax exemption, they may reject your application. Most exemptions from property taxes are automatically renewed by the county, and you might need to reapply for several county-specific property tax exemptions on a yearly basis.
How to apply for a tax deferral or a homestead exemption
By April 1st, you must submit your request for an exemption or deferral for the current year. To file, you will need supporting paperwork, such as
A valid Georgia driver’s license or any other form of ID.
Social Security number of the owner and their spouse.
Registration of all owned cars.
Deed for new owners in recorded form.
If the assets are held in a trust, the trust document, and affidavit.
Evidence of Income (Senior and other Special Exemptions).
Copies of last year’s tax return returns for federal and state income taxes.
Your Social Security Award Letter’s copy (in case you do not file income tax).
Applications fortax exemptions or deferrals can be sent to the tax commissioner’s office in your county, or in some counties, the tax assessor’s office has been designated to receive them. The Department of Revenue website has the Application for Homestead Exemption. For applications for local exemptions and deferrals, contact your county. You can complete a tax exemption application online in many counties.
Requirements for qualifying for exemptions
For double homestead exemptions:
The minimum age for qualifying for double homestead exemption is 65. Anyone over the age of 65 is also eligible.
You must be a resident of the home to which the exemption applies on January 1 of the year in question.
Your net income for the prior year, or the combined net income of you and your spouse, should have stayed within $10,000. A pension or Social Security payments are not included as part of net income until the pension exceeds the maximum Social Security benefit that an individual is eligible to receive.
By April 1 of the first year for which the exemption is applicable, you must submit an application for the double homestead exemption. You won’t need to reapply if you keep residing in the same house. Instead, following the year you first apply, the exemption will be renewed automatically. If, however, for any reason, you are no longer qualified for the double homestead exemption, you must inform your county.
Requirements for getting tax deferral for your property
Age 62 or older is required.
The exemption only applies to homes that you own and are currently residing in.
If you want to postpone taxes on up to $50,000 of the assessed value of your house, no one person’s combined income during the previous year could have exceeded $15,000.
The sum of the delayed taxes, interest, and other liens on the property cannot exceed 85% of its fair market value.
To guard against loss due to fire or other risks, you must keep insurance on the property.
You must submit an annual application by April 1 of the applicable year.
Appeal Your Home’s Taxable Value
You may be aware that the taxable value of a residence is multiplied by the applicable tax rate in order for the Georgia tax authorities to calculate property tax. Go to the Georgia Assessor’s website and click on the county name in the alphabetical list to receive the address of your tax assessor and details about how to file an appeal.
You might choose to seek an appeal if you think the tax assessor miscalculated the value of your property, for instance, by declaring that it is larger than it actually is or if the taxable value is suspiciously greater than that of comparable properties in the vicinity.
Seeking a lawyer’s help regarding your property tax bill in Georgia
Although Georgia law establishes statewide property tax regulations, the administration and collection of the tax are handled by your local government. For detailed information on property tax exemptions, get in touch with your local tax assessor. Ask about any forms you need to fill out and the due date for submitting them.
Your tax statement may also include special assessments in addition to the property tax, which is calculated on the assessed value of your residence. Usually, levies are imposed to pay for neighborhood upgrades like new or repaved streets. To lower your taxes, you might want to see an attorney, depending on how complicated your situation is.
Research what your neighbors are paying
The local town hall has information regarding your house. The public often has access to information regarding other house inspections in the neighborhood, which many people are unaware of. Reviewing nearby comparable properties as well as broad information regarding the evaluation outcomes for the town is crucial.
It’s common to discover errors that could result in lower taxes. If your home has a higher tax burden than the others, the assessor likely made a mistake unless your property has some other distinctive features that explain the gap.
Assist the assessor
Many homeowners let the tax assessor wander around their properties without any guidance from the homeowner while it is being evaluated. This could be erroneous. Some appraisers will only notice the positive aspects of the house, such as the brand-new fireplace or the kitchen’s marble countertops.
They might not notice that some of the appliances are outdated or that there are a few little cracks forming in the ceiling. Make careful to walk the property with the assessor and point out both the positive aspects and the shortcomings to avoid this from happening. By doing this, you may be confident that your house will be valued fairly.
The tax assessor is not required to enter your home. However, if you deny access to the interior, the assessor will often infer that you have made specific upgrades, such as more fixtures or extravagant renovations.
This can lead to a higher tax bill. Many communities have a rule that the assessor will automatically assign the highest assessed value—fair or not—for that type of property if the proprietor does not permit full access to the property.
It is now the person’s responsibility to challenge the assessment with the town, which will be extremely difficult unless you allow access to the interior. It’s advised that you grant the assessor entry to your house. You should be okay if you obtained permits for all of the property modifications you made.
Closing thoughts on saving money on your taxes
Do you want to save money on taxes? Of course you do. No one I know wants less expendable income!
It can be tricky to strike a balance between the desire for a lovely home and the desire to pay the least amount of tax. Although, there are a few things you can do to lower your property tax bill without having to move into a run-down apartment. Try not to make any changes soon before your house is to be appraised.
Look at your neighbors; if they own a similar house and pay less in taxes than you do, you might be eligible for a tax break. All you have to do is ask. The most vital thing to keep in mind is to not take your tax bill for granted. A little preparation and attention can lighten the load.
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