Why Should You File for a Homestead Exemption?

Selling your home? Get a home valuation. | Buying a home? Search the local MLS. If you purchased a home in 2016, you have the ability to file for a homestead exemption on your primary residence. A homestead exemption is a great way for you to save money. You cannot file for a homestead exemption on a rental property or vacation home, but you can file for one on your primary residence. Basically, a homestead exemption reduces your tax liability on your property taxes, which saves you money. The amount of money depends on the county that you live in. I have a document that I can share with you that has links to all of the counties in our area. All you have to do is click on the link to get to the tax assessor’s website and you can file for the exemption. Most counties allow you to file for the homestead exemption online but some, like Cobb County, require that you mail in the application. A homestead exemption will save you money on your property taxes. No matter how you file for the home extension, you will save money every month on your mortgage so long as your property taxes are escrowed in. When you file, you need to submit a copy of your deed. You should get the deed from your closing attorney four to six weeks after closing. If it’s been longer than that, reach out to your closing attorney to get a copy.  If you would like a copy of the document with the links to the tax assessors’ websites, just email me at [email protected] and I’ll send it along to you. Of course, if you have any other real estate questions, don’t hesitate to reach out to me. I would be happy to help you!