SET Real Estate Group February 19, 2024
Atlanta’s diverse range of industries and vigorous real estate market make it one of the strongest economies in the US. In addition to its alluring local economy, Atlanta also offers homestead exemptions on its already modest property taxes.
A homestead exemption is a legal provision that allows home owners to reduce the property taxes on their primary residence. The deductible amount varies by county and/or city.
By easing the burden of property tax bills, homestead exemptions protect home owners from high creditor demands that may force them to sell their homes. This helpful tax break also provides financial support for those who qualify under special exemptions.
The basic homestead exemption in Atlanta is $30,000. In order to qualify, you must be a legal resident of Fulton County with a home owned and occupied by January 1, 2019. You may only claim a homestead exemption on your primary residence and not on multiple properties, rental property, or vacant land.
Atlanta also provides additional exemptions that increase the deductible amount on their taxable value. These include exemptions for senior adults, disabled veterans, and surviving spouses of a peace officer, firefighter, or military veteran.
For more details on these special exemptions, click here.
Only persons listed on the property deed are eligible to apply for a homestead exemption. The documents required for the application are:
As long as you own and occupy the home as your primary residence, there will be no need to re-apply every year. However, if you fall under the Fulton County Low Income 50% Exemption, you must re-apply every two years.
Follow these instructions to apply for a homestead exemption using the Fulton County government’s online application system:
The deadline for applications is April 1, 2019. Applications submitted after this date will be processed for the following year.
For more help getting a homestead exemption in Atlanta, contact SET Real Estate Group. Call us today at (404) 348-2373 or email [email protected].
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At SET Real Estate Group, they are passionate about helping clients fulfill their real estate goals. As a team, they don't look at every sale or purchase as just another transaction, but as opportunities to cultivate lasting and meaningful relationships with each of their clients.