What credits or deductions can I get for my property taxes?
In the State of Georgia, homeowners are able to get certain credits and deductions when it comes to their property taxes. One credit homeowners may be able to receive is the Homestead Option Sales Tax Credit, which is for homeowners who have owned and lived in their home for at least one full year prior to January 1 of the tax year. This credit allows homeowners to deduct up to $2,000 of their qualifying sales taxes from their property taxes. Homeowners may also be eligible for a Homestead Exemption, which exempts a certain amount from property taxes for a primary residence. The amount can vary from county to county, ranging from $2,000-$50,000. Other credits that may be available to homeowners include the Disabled Veteran’s Tax Credit, for those who are disabled veterans, and the Widows and Widowers Exemption, for those whose spouse has passed away. Finally, Georgia also offers a Conservation Use Credit, which is available to those who use their land for a purpose that benefits the public, such as forestry or wildlife conservation. The amount of this credit is determined by the amount of land used and the type of use. In summary, homeowners in the State of Georgia may be eligible for a variety of credits and deductions when it comes to their property taxes, such as the Homestead Option Sales Tax Credit, Homestead Exemption, Disabled Veteran’s Tax Credit, Widows and Widowers Exemption, and Conservation Use Credit.
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