What is a homestead exemption?

A homestead exemption is a state law that allows homeowners in Georgia to exempt a portion of the value of their property from property taxes. It is designed to help homeowners save money on their property taxes. The purpose of the homestead exemption is to provide relief to homeowners who may not be able to pay their full property taxes due to a financial hardship such as a job loss or medical emergency. In Georgia, a homestead exemption is granted for the primary residence of a homeowner. The amount of the homestead exemption depends on the value of the property, and can range from $15,000 to $30,000. This means that the homeowner will not be responsible for paying taxes on the amount of the exemption. For example, if the value of the property is $250,000 and the homeowner is eligible for a $20,000 homestead exemption, then they will only have to pay taxes on the remaining $230,000. In order to qualify for a homestead exemption, homeowners must meet certain criteria. This includes being a legal resident of Georgia, and owning and occupying the property as a primary residence. The homeowner must submit an application to their county’s tax commissioner. They must also provide proof of residency, such as a driver’s license or voter registration card. Homestead exemptions can help homeowners save money on their property taxes, making it easier for them to pay their taxes and stay in their home.

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What is a homestead exemption?

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