Georgia Homestead Exemption: Deadline Is Fast Approaching

January 21, 2025

Navigating property taxes can be a daunting task for homeowners, but understanding available exemptions can significantly alleviate this burden. One such benefit is the Homestead Exemption, which offers a reduction in a home's assessed value, leading to potential tax savings. In Georgia, particularly for properties purchased in 2024 across counties like Bryan, Bulloch, Effingham, Glynn, Liberty, Long, McIntosh, and Tattnall, it's crucial to file for this exemption promptly. As highlighted by Joel Gerber, a real estate attorney, in his article "Homestead Exemption: Some Things Will Never Change," homeowners should file for the Homestead Exemption to receive a reduction in their home's assessed value. By doing so, homeowners can secure valuable tax benefits and ensure they're not overpaying on their property taxes.

Benefits of Filing for the Homestead Exemption

Reduced Assessed Value: Filing grants a reduction in your home's assessed value, leading to potential property tax savings.
Assessment Stabilization: The exemption helps stabilize your property's assessed value, preventing significant increases over the years, provided no building permits are applied for.

County-Specific Filing Information

Bryan County: Bring your driver's license (with the new address) to the Bryan County Tax Commissioner's Office in Richmond Hill or Pembroke. The exemption must be filed before April 1, 2025.
Bulloch County: Submit your driver's license (with the new address) to the Bulloch County Tax Assessor's Office. The exemption must be filed before April 1, 2025.
Chatham County: Determine the appropriate time to file by comparing your property's 2024 appraised total to your purchase price. Detailed steps are provided on the Savannah Real Estate Lawyer blog.

Important Considerations

New Construction Homes: If you purchased a new construction home, the county might not have assessed the completed property yet. It's advisable to file the Homestead Exemption but also review your Annual Notice of Assessment, typically mailed in mid-May 2025. If the assessed value significantly exceeds your purchase price, consider filing an appeal to adjust the fair market value for Stephens-Day purposes.
Disability Exemptions: If you qualify for larger exemptions, such as a disability exemption, it may be beneficial to file regardless of the assessed value differences.

For comprehensive guidance tailored to your specific situation, please refer to the detailed information provided on the Savannah Real Estate Lawyer blog by Joel Gerber: Homestead Exemption: Some Things Will Never Change