The following information applies to Georgia residents:

Different Types of Homestead Exemptions

Under authority of the State Constitution several different types of homestead exemptions are provided. In addition, local governments are authorized to provide for increased exemption amounts and several have done so. The tax commissioner in your county can answer questions regarding the standard exemptions as well as any local exemptions that are in place.

The Standard Elderly General Homestead Exemption is available to homeowners who otherwise qualify and who are 65 and older where the net income of the applicant and spouse does not exceed $10,000 for the preceding year. Social Security income and retirement income are calculated in a different category. This amount varies yearly. Please call the Tax Commissioner’s Office Property Tax section to verify amount. This exemption, which is in an amount up to $4,000 deducted from the State and $21,500 off the 40% assessed value of the homestead property applies to county taxes, school taxes, and the state tax and it does apply to taxes levied to retire bonded indebtedness.

The Disabled Veterans Homestead Exemption is available to certain disabled veterans in an amount up to $38,000 deducted from the 40% assessed value of the homestead property. This exemption applies to all ad valorem tax levies; however, it is restricted to certain types of very serious disabilities and proof of disability, either from the Veterans Administration or from a private physician in certain circumstances. Disability must be 100%.

Current as of July 2014