You've closed on your home. Congratulations! Now there's one small task that can save you money on property taxes every single year: filing for your homestead exemption.
What is a homestead exemption?
A homestead exemption reduces the taxable value of your primary residence, which lowers your property tax bill. Georgia has a basic statewide exemption, and many counties add their own, larger exemptions on top.
Who qualifies?
Generally, you must own the home and live in it as your primary residence on January 1 of the tax year. Investment properties and second homes do not qualify.
The deadline
In Georgia, you generally need to file by April 1 for the exemption to apply to that year's taxes. If you closed in, say, June, you'd file by April 1 of the following year. Once approved, it usually renews automatically as long as you keep living there.
How to file
- Go to your county tax assessor's or tax commissioner's website.
- Have your closing documents, driver's license with the new address, and vehicle registration ready.
- Many counties let you file online in a few minutes.
- Ask about extra exemptions for seniors, veterans or people with disabilities.
I remind all my buyers about this after closing, because it's easy to forget and it's free money.
This article is general information, not legal or tax advice. Rules can change, so confirm details for your situation.