School Property Tax Exemption for the Elderly with Local Option

Georgia

2021

No Variation in Receipt of Benefits

Exemption

Eligible applicants receive a $10,000 exemption from assessed value from all property taxes levied by, for, or on behalf of any school system. This exemption is equivalent to $25,000 of market value given the state's 40% assessment rate. The applicant must file an initial application, but from that year forward, additional annual applications are not required. However, it is the responsibility of the homeowner to notify the tax commissioner if he or she becomes ineligible for the exemption. Counties have the option of increasing the amount of the exemption.

Exemption from assessed value

Residential

Only residential property is eligible for this program.

Age

Homeowner

Income Ceiling

Principal Residence

Eligible applicants must be at least 62 years old and occupy the qualifying property as a primary residence as of 1 January for the year in which the benefit is first applied. They must have a net household income that does not exceed $10,000. Household income excludes income from retirement, survivor or disability benefits under the federal Social Security Act or under any other public or private retirement, disability or pension system. Any Income in excess of the maximum amount authorized to be paid to an individual and their spouse under the federal Social Security Act are included as net household income.

Local government is unable to exercise an option

Local option regarding program features

State reimburses all of the local government tax loss

State funding for tax loss is provided to school districts only when funds are specifically appropriated for that purpose. In the event that funds are appropriated, the State Board of Education will provide each school district with grants for educational purposes in an amount equal to the revenues lost by the school district because of this exemption. The state will distribute these grants only to school districts which had a tax levy of 20 mills or more for educational purposes as of 1 July 1974.

GA108_RR21