Homestead Exemption

by | Jan 14, 2022

As Easy As….

 

Congrats on your new home!

The start of the new year and tax season means it’s time to take advantage of the Homestead Exemption. Homestead what? 

Not only do you get to swell with pride every time you pull into your driveway, but being a homeowner also means you can take advantage of some serious tax savings via Homestead Exemption.

So what the heck is a Homestead Exemption?

  1.  A homestead exemption is a legal provision that helps shield a home from some creditors following the death of a homeowner spouse or the declaration of bankruptcy.

  2.  A state or local tax break that exempts a certain amount of the value of the property upon which a property tax is based.

  3.  A means by which a homeowner can reduce the amount of taxes owed on the property if the property is used as the homeowner’s residence.

  4.  All of the above

The correct answer is “4. All of the above”. Here’s what Homestead Exemption means to you!

If you purchased a home, more specifically, your primary residence in 2021, you’re now eligible to apply for / qualify for the homestead exemption. Georgia law provides that every homeowner is eligible to claim a Homestead Exemption for a primary residence owned on January 1, 2021. This property tax benefit can amount to considerable annual savings for you.

Ready to file? (and also, congrats on being so on top of things!)

Here’s what you’ll want to have handy when you head online to complete your Homestead Exemption application:

• Homeowner Name (that’s you)

• Property Address (that’s your crib)

• Parcel ID # found on your tax bill (if you need help looking this up, please reach out)

Click on the corresponding county and/or city to file online—

  • City of Decatur / Dekalb County – you must file online with both the City and the County. The City deadline is April 1, 2022. It saves approximately $20,000 off your assessed value. File with the County by April 1, 2022, and it will take about 2/3rds off the County portion of the tax bill.

  • Dekalb County Unincorporated – File online by April 1, 2022. This should take about 1/3rd off the tax bill.

  • City of Atlanta / Dekalb County – File online with the County by April 1, 2022, only. It will automatically file with the City. This saves you about $30,000 off your total assessed value and about 2/3rds off your County portion.

  • City of Atlanta / Fulton County – File with the County by April 1, 2022. It will automatically file with the City. This saves you about $30,000 off your assessed value with the City and about $10,000 off your assessed value with the County; it’s well worth the effort!

How else may we be of service to you or your friends?

Ready to start the conversation?

HERE’S HOW IT WORKS:

Connect

Not sure you’re ready to dive in? No worries! Our first conversation is super low-key. You ask questions; we learn your goals.

Collaborate

When you’re ready to move forward, we manage all the details, absorb the stressful bits, and keep the enthusiasm high.

Celebrate

Your success is our favorite part, and we celebrate big on closing day. Bear hugs all around! (Handshakes are fine, too. You pick.)

WE CAN’T WAIT TO MEET YOU.

Recent Posts