Homestead Act Example In Georgia
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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.
The Standard Homestead Exemption is available to all homeowners who otherwise qualify by ownership and residency requirements and it is an amount equal to $2,000 which is deducted from the 40% assessed value of the homestead property.
The standard homestead exemption in Georgia is $2,000. This $2,000 is deducted from the 40% assessed value of the homestead.
A homestead exemption reduces the amount of property taxes homeowners owe on their legal residence. You must file with the county or city where your home is located. Each county has different applications and required documents.
The standard homestead exemption in Georgia is $2,000. This $2,000 is deducted from the 40% assessed value of the homestead.
