On November 6, 2018, voters approved several new Homestead exemptions. These are available to homeowners on their primary residence only (not available for second homes, rental properties, etc):
Fulton county taxes - $50,000 exemption for residents over age 65 from county taxes (increases the basic exemption from $30,000 to $50,000)
Fulton school taxes - new floating exemption capping the increase of value on school taxes at no more than 3% annually
Atlanta city taxes - new floating exemption capping the increase of value on municipal taxes at no more than 2.6% annually
Alpharetta, Johns Creek, Milton, Roswell & Mountain Park city taxes: new floating exemption capping the increase of value on city taxes at no more than 3% annually
City of Atlanta residents will also benefit from an increase in the existing school exemption from $30,000 to $50,000.
Most homeowners do NOT need to file new Homestead Exemption applications:
Fulton County residents: Fulton County and the cities of Atlanta, Alpharetta, Johns Creek, Milton, Roswell & Mountain Park will automatically apply the new floating exemptions to your property IF you have an existing Homestead exemption.
Homeowners in all other GA counties: once granted, most Homestead exemptions renew automatically each year while you own your home.
File a Homestead Exemption application if:
New homeowners or homeowners who do not have a Homestead exemption on their primary residence (this applies to property owners in all Georgia counties!)
Fulton County residents over age 65 (as of 1/1/19): The new $50,000 exemption will be automatically applied only for residents who already have another 65 and over exemption. If you do not have an age 65 exemption, you must file an application by April 1.
DeKalb County/City of Atlanta: As of this post, DeKalb has not finalized their guidance on the implementation of the new Atlanta floating exemption. Out of an abundance of caution, DeKalb Co. homeowners within the City of Atlanta should file for the new floating exemption by April 1 (unless guidance is published by the County to the contrary). ***Update*** 2-11-19 - DeKalb has sent letters to affected homeowners notifying them that the exemption will be automatically applied. If you did not receive a letter, contact the DeKalb Tax Commissioner’s office.
These new exemptions will exempt part of your home’s value from taxation, or cap the amount the tax increase each year. The exemptions DO NOT limit or restrict how the tax assessors value your property. An appeal of your assessment value remains an important way to challenge and reduce your annual property tax burden.