How to Make Property Tax Exemptions Work for You

(Homestead and Senior Exemptions)

You’re thrilled that the value of your home is going up. Like most Americans, your home is one of your most important investments and your pathway to wealth. Until the property tax bill comes!

Whether you are a new homeowner or recently bought another home (primary residence), there are several property tax exemptions available. You want to lower your tax bill by taking advantage of all the exemptions you are eligible for.

All homeowners are eligible for the Basic HomeStead Exemption.

Cobb County Basic Home Stead Exemption

Georgia law allows every homeowner to receive a basic exemption for a primary residence that was owned on January 1, 2019. But this isn’t automatic. You have to submit an application to receive the tax break.

The way a tax exemption works is that a set amount of the property value will NOT be taxed. For the homestead tax exemption, the first $10,000 of value will not be taxed. According to the Cobb County Tax Accessor, “the 2018 Basic Homestead Exemption is worth $256.60.”

The basic process is your assessed property value is determined first. Then, the exemption is subtracted from the value before the tax is calculated. This means that if your accessed home value is $100,000, you will only be taxed on $90,000.

The taxes this exemption applies to are the county general and school general tax categories. Additionally, you are automatically eligible for a $2,000 exemption in the state tax category.

Follow this link for the Cobb County Homestead Exemption Tax Form.

You need to file by April 1, 2019. Filing the completed application can be done by:

Mail to:

Cobb County Property Tax Division
PO Box 100127
Marietta, GA 30061

-or-

Drop off:

Cobb County Property Tax Division
736 Whitlock Ave, Ste 100
Marietta, GA 30064

You may also be eligible for a Homestead Tax Exemption for city taxes. If you are in the City of Marietta, you qualify for a $4,000 homestead exemption. This application is also due by April 1, 2019. If you are in another city, you should check with that tax authority.

If you previously filed and received a homestead tax exemption and still live in the same primary residence, the exemption is should automatically renew each year. However, if you purchased or moved to a different primary residence the homestead exemption does not automatically transfer. You must file a new homestead exemption on your new primary residence.

If you have any questions about the homestead tax exemption please send us a note. You can also reached us by sending an email or calling us at (678) 570-8123. We'll be glad to help you!

Other County and State Property Tax Exemptions

There are other tax exemptions available for residents of Cobb County that you want to be aware of.

Cobb County School Tax (Age 62). This is an exemption from all taxes in the school general and school bond tax categories.
State Senior $10,000 Income Limit (Age 65). A $4,000 exemption in the state, county bond, and fire district tax categories.
Cobb County $22,000 Disability. A $22,000 exemption in all tax categories except the state. Your annual net income cannot exceed $12,000 for the immediately preceding year (this includes income of your spouse but does not include income received as a result of the disability; e.g. disability retirement).
State Veteran's Disability. A set exemption in all tax categories. You must have 100% service connected disability or be compensated at 100% due to un-employability. Upon death of the applicant, this exemption extends to the un-remarried surviving spouse or minor children provided they continue to occupy the home as their primary residence.
State Surviving Spouse. An exemption in all tax categories. You must be the un-remarried surviving spouse of a member of the U. S. armed forces killed in any war or conflict (as defined in OCGA 48-5-52.1) and be receiving spousal benefits from the U. S. Department of Veterans Affairs.
State Surviving Spouse of a Peace Officer or Firefighter Killed in the Line of Duty. An exemption for the full value of the homestead. You must be the un-remarried surviving spouse of a peace officer or firefighter killed in the line of duty.

You may have other tax reduction opportunities as a benefit of being a homeowner. Be sure you provide your tax preparer with a copy of the Closing Disclosure or Settlement Statement. There may be tax savings on your personal income taxes for several years after you purchase your home.

If you need more information or have questions, please send us a note. You can also reach us by sending an email or calling us at (678) 570-8123. We'll be glad to help you!