Just because your property taxes may be tax deductible, that's no reason to pay more than you need to. In most counties in Georgia, filing for Homestead Exemption can reduce your property tax liability for your primary residence -- a welcome reduction in both your property tax bill and, if your mortgage holder keeps an escrow account for you, in your monthly mortgage payment.
As a homeowner, taking advantage of the homestead exemption can lead to significant savings on your property taxes. If you’ve already filed for this benefit, you might think you’re all set—but certain life changes may require you to refile to ensure you continue to receive it. Here are some key situations where you might need to revisit your homestead exemption status:
1. Name Change. If your name has changed due to marriage, divorce, or any other legal reason, your exemption may need to be updated to reflect the change. Ensuring your records match is critical to avoid any potential complications.
2. Property Ownership Changes. If you recently placed your property into a trust or transferred ownership, even partially, you will likely need to file again. Situations like these often require a new homestead exemption application to maintain your tax benefits.
3. Ownership Additions or Removals. If you added or removed an owner’s name from the deed, such as through inheritance, sale, or Quit Claim Deed, this is another common reason to refile. This ensures that the correct individuals are listed and eligible for the exemption.
We promised you THREE reasons to refile, but there's one additional reason (let's call it a bonus, even though it's an unwanted bonus) that you will want to check your Homestead Exemption Status and possibly have to file again -- Errors or Omissions in Previous Filing. Mistakes happen. If there were any errors in your initial application (or errors on the part of the data entry department at your tax assessor's office), it’s worth checking on your status and correcting those errors as soon as possible to ensure you’re receiving the full exemption you qualify for.
When to Act
Homestead exemptions typically have strict deadlines, often early in the year. For most counties in Georgia, this deadline is April 1 each year. Don’t wait until it’s too late to verify your eligibility/current status and file any necessary updates. Contact your local tax assessor’s office to confirm your status and make any needed adjustments.
Why It Matters
The homestead exemption can save you hundreds or even thousands of dollars annually on your property taxes. Staying proactive about your exemption ensures you’re not leaving money on the table. Whether it’s a name change, a trust transfer, or correcting an error, taking the time to review your status is well worth the effort.
If you have questions or need help navigating this process, feel free to reach out. I’m here to assist you with all your homeownership needs!
