It’s that time of year – time to file Homestead Exemption! Did you buy a house in 2018? Is it your primary residence? If so, you need to file their Homestead Exemption, also known as the property tax exemption.
Property taxes are an ad valorem tax, meaning it is based on value. Local governments appraise and set that value. Your Homestead Exemption gives you a break on your property taxes that you have paid, and allows you to be exempt from a certain amount of property tax. It can SAVE YOU MONEY!
There are 2 criteria for filing for Homestead Exemption –
1. You must live in the home.
2. The home must be your primary residence.
You can only file for 1 Homestead Exemption. In other words, no other property you own, in or out of state, can be filed. The deadline to file for Georgia is April 1.
And in case you were wondering – who and what do not pay property taxes?
1. Religious Organizations, and
2. Governments.
For more information, and to see additional exemptions, visit www.dor.georgia.gov.