Homestead Exemption: To File or Not to File

Written by Joel Gerber. Posted in Homestead Exemption, Real Estate

For those of you who bought a primary residence in 2012 at a price lower than the 2012 tax assessed value, you should see a reduction in your home’s tax assessed value for 2013. This year (around June), you should receive a valuation notice from the county tax assessor showing that the 2013 tax assessed value of your home is now the purchase price. After you receive the valuation notice showing your home’s new assessed value is now the purchase price, you likely should go ahead and file your Homestead Exemption (which is a small tax break).

By filing your Homestead Exemption at this time, you lock in the highest amount your home can be taxed at (commonly known as your Stephens Day rate and applies only to a portion of your tax bill). If for some reason the valuation notice you receive this year does not reflect the lower purchase price (as there are a few exceptions), the valuation notice will provide you instruction on how to appeal your home’s tax assessed value. Please understand that the information provided above is general information and may not apply to your specific situation. If you have any questions along the way or would like to discuss this process in more detail, feel free to call me at (912) 484-1996 or

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