What is the Homestead Exemption?
- According to the Georgia Department of Revenue, "Generally, a homeowner is entitled to a homestead exemption on their home and land underneath provided the home was owned by the homeowner and was their legal residence as of January 1 of the taxable year. (O.C.G.A. § 48-5-40)"
To be eligible for a homestead exemption:
You must have owned the property as of January 1.
The home must be considered your legal residence for all purposes.
You must occupy the home.
You cannot already claim a homestead exemption for another property in Georgia or in any other state.