Homestead Exemption

As 2016 begins, so do questions regarding the Homestead Exemption. If you are a Georgia resident and purchased a primary residence in 2015 located in Chatham County, the following is a guide to help you determine whether you should file for the exemption this year.

For those of you who are Georgia residents, purchased a primary residence in 2015 located in Bryan, Effingham, Liberty or Bulloch County, no guidance is needed – you should file away!

For Chatham County property owners, first go to the Chatham County Tax Commissioner’s website at chathamtax.org. Follow the prompts to search for your property tax bill. Do not be alarmed if the tax bill for your property is not in your name yet. The tax assessor updates its records regarding the new owner in 2016. On the tax bill locate the Fair Market Value. You will need to know the Fair Market Value to determine whether to file for the Homestead Exemption. Continue Reading

What if I bought my home in 2013 and the 2013 tax assessed value is less than what I paid?

For those of you who bought a primary residence in 2013 and paid more than the 2013 tax assessed value (assuming the building and the land have been given values) you want to file for your Homestead Exemption on or before March 31, 2014. By filing for Homestead, you (1) will receive a reduction of your home’s assessed value each year going forward and (2) you are locking in your home’s assessed value. This is a good thing because this “lock” will prevent your home’s assessed value from increasing over the years (as long as you do not apply for a building permit). Please note that the locked value (commonly known as your Stephens Day rate) does not apply to the school tax portion of your tax bill. You can file your Homestead Exemption by going to the appropriate tax assessor’s office (for the county in which your property is located). Call before you go there and confirm what items you may need to bring (i.e., a 2013 utility bill, etc.). Continue Reading