Moving to Cobb County GA - Save on Property Taxes with Homestead Exemption

Dated: December 20 2023

Views: 29


MOVING TO COBB COUNTY GA?

HERE ARE THE WAYS YOU CAN SAVE WITH HOMESTEAD EXEMPTION


As a Cobb County resident, homestead exemptions are a great way to reduce the amount of property taxes you pay for your home. But what exactly are homestead exemptions? Homestead exemptions are deducted from the assessed value of the qualifying property (40% of the fair market value). Exemptions only apply to homestead property you own and occupy as your legal residence.

You can have a homestead exemption on only one property. If you are married, by law you can only have one homestead exemption between you and your spouse.

TYPES OF HOMESTEAD EXEMPTIONS


Cobb County Basic Homestead

This is a $10,000 exemption in the county general and school general tax categories. The 2020 Basic Homestead Exemption is worth $273.60. In addition, you are automatically eligible for a $10,000 exemption in the school general tax category.  When applying you must provide proof of Georgia residency.

Cobb County School Tax (Age 62)

This is an exemption from all taxes in the school general and school bond tax categories. In order to qualify, you must be 62 years of age on or before January 1 of the current tax year. When applying you must provide proof of age.

Senior Exemption - Age 64 - $4000

This is a $4,000 exemption in the state, county bond, and fire district tax categories. In order to qualify, you must be 65 years of age on or before January 1 and your annual net income cannot exceed $10,000 for the immediately preceding tax year. This includes the income of your spouse but does not include Social Security or retirement income.

Cobb County Disability Exemption

This is a $22,000 exemption in all tax categories except the state. In order to qualify, you must be disabled on or before January 1 and your annual net income cannot exceed $12,000 for the immediately preceding year. This includes the income of your spouse but does not include income received as a result of the disability; e.g. disability retirement. When applying you must provide proof of income and a doctor’s certificate stating that you are disabled and that you are unable to be gainfully employed and likely to remain permanent.

State Veterans Disability Exemption

This is a set exemption in all tax categories. In order to qualify, you must have 100% service-connected disability, be compensated at 100% due to unemployability, or be a disabled veteran as defined by O.C.G.A. § 48-5-48. When applying you must provide a letter from the Veteran’s Administration indicating the effective date of the Veteran’s 100% service-connected disability.

State Surviving Spouse Exemption

This is an exemption in all tax categories. In order to qualify, you must be the un-remarried surviving spouse or minor child(ren) of a member of the U.S. armed forces killed in any war or conflict or died as a result of service-connected injury or illness (as defined in O.C.G.A. § 48-5-52.1) and are receiving spousal benefits from the U. S. Department of Veterans Affairs. When applying you must provide a letter from the Secretary of Defense evidencing the un-remarried surviving spouse or minor child(ren) is receiving spousal benefits as a result of the death of their spouse.

State Surviving Spouse of Peace Officer or Firefighter Killed in the Line of Duty

This is an exemption for the full value of the homestead. In order to qualify, you must be the un-remarried surviving spouse of a peace officer or firefighter killed in the line of duty. When applying you must provide a copy of the death certificate and documentation from the municipality evidencing the Firefighter or Peace Officer was killed in the line of duty.

Blog author image

Lyssette Navarra, MRP

As a full-Service REALTOR®, Certified Military Relocation Professional (MRP), and Certified Staging Agent (RESA-CSA), Lyssette considers it an honor and a privilege to work with those who sacrific....

Latest Blog Posts

Thirsty Thursdays - Welcomes Spring - Blood Orange Margaritas

Spring is in the Air...Barbecues, pool parties,  corn hole, and FUN drinks! Here is a great way to get the fun started at your next backyard party. Blood Orange Margaritas Blood

Read More

Why You Should Consider Selling in the Winter

The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of

Read More

Moving to Paulding County GA - Save on Property Taxes with Homestead Exemption

MOVING TO PAULDING COUNTY?HERE ARE THE WAYS YOU CAN SAVE WITH HOMESTEAD EXEMPTIONIf you purchase a home in the past year or are currently a homeowner you are going to want to file for Homestead

Read More

Moving to Cobb County GA - Save on Property Taxes with Homestead Exemption

MOVING TO COBB COUNTY GA?HERE ARE THE WAYS YOU CAN SAVE WITH HOMESTEAD EXEMPTIONAs a Cobb County resident, homestead exemptions are a great way to reduce the amount of property taxes you pay for

Read More