Elimination of Homestead Exemption in Georgia
Public reports of the removal of the Georgia Homestead Exemption have left homeowners confused and agents unsure of what to say in their annual home buyer letters.
The standard homestead exemption (and other exemptions based upon age) still exist and have not changed.
What has been eliminated is the money that the homeowner may have also received under the Homeowner’s Tax Relief Grant. The measure was passed by the Georgia legislature but was not funded by the state for 2009 due to budget constraints. It will only be funded if state revenue grows 3% plus the rate of inflation.
The result will be an average increase in property taxes of $300.00.
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* Information received from:
Morris Hardwick Schneider
Nikki Gilbert Fernandez