Homeowner Real Estate Tax Breaks

Updated: October 10, 2024

Don’t miss your tax breaks for being a homeowner!

What is Homestead Exemption? 

Filing for a Homestead Exemption at the local county’s tax office reduces the taxable value of your home, saving you money during tax time. In many counties throughout Georgia, you must have owned and lived on the property as of Jan.1st. You may also be required to file with the city if your property is also located within city limits.

The State of GA has information on Property Tax Facts on a per County or City basis, with a great search tool and map – click HERE for details.

Basic Requirements for Homestead Exemption:
Must be legal resident of the county; and
Must own and occupy home as a primary residence as of January 1 of the year the homestead exemption is sought.

Deadline for Filing Homestead Exemption:
In most counties, the application must be filed by April 1 of the year the exemption is sought, but some counties have a different deadline.

How Long will the Homestead Exemption Last?
The Homestead exemption will remain on the property until there is a change in ownership.

Tax Breaks for people age 62+ or Disabled

Many Georgia counties give owners who are 62 years of age or older a significant break from the school portion of property taxes. Owners with certain disabilities may also be eligible for tax breaks. Check with your specific county and city if applicable, for more information on these local benefits that offer significant tax breaks.

Tax Breaks for Agricultural Conservation Use

Some additional tax benefits are available in some Georgia counties based on an agricultural conservation use. The Conservation Use Program, also known as the Current Use Valuation Assessment or “CUVA”, is a state legislated, county administered program. The conservation use program can provide some relief from property tax burdens to certain qualified, active agricultural properties.

TIP: Be sure to understand any applicable tax penalties for prematurely cancelling a conservation use, which can inadvertently happen when selling a property.

What about Mortgage Interest Deduction?

Homeowners can deduct the interest portion of their mortgage payments for tax calculations, within IRS limits and rules. The amount of deductible mortgage interest is reported each year to homeowners by the mortgage company. This deduction is offered as an incentive for homeowners. The earlier you are in your mortgage, the greater the percentage of each payment goes toward interest. For a comprehensive checklist of forms and documents to aid in preparation of taxes, visit the IRS website.