Property Tax Updates in Georgia

Tax Professionals' Resource
March 4, 2013 — 1,191 views  
Become a Bronze Member for monthly eNewsletter, articles, and white papers.

The property owners in the Hall County region are being reminded about the fact that in the month of April, they will have to address a few property tax related issues. These deadlines are common in the state of Georgia, as Georgia property tax is standard throughout the state. The property owners need to prepare documents and file their property taxes by the 1st of April, as that is the deadline for taxpayer returns.

The Homestead Exemptions

According to the Georgia property tax, Homestead Exemptions can be applied by the residents throughout the year. However, if you want your exemption to be valid for the present or the current tax year, you need to send in your application before the 1st of April, 2013. Homestead Exemptions are only offered to the primary-residence owners. However, there are a variety of exemptions that are offered, for instance, Senior Citizens Homestead Exemptions, Regular Homestead Exemptions, and Homestead Exemptions for 100% Disabled Veterans.

The Conservation Use Covenant

The residents who are using a property that is being used for bona fide agricultural purposes need to get a Conservation Use Covenant. If your Conservation Use Covenant is valid throughout the present year, you don't have to worry. But if it is going to expire in 2013, you need to submit a form in the county Tax Assessor’s office before the 1st of April, 2013. The residents who are applying for this covenant for the first time can even apply within the 45 day period, during which the notices are mailed to the authorities. The residents can even submit these forms online.

Property tax legislation that will impact the property owners

While filing tax returns, the residents need to keep in mind that the 2010 modest property tax relief, which was passed by the Georgia State House, will not impact all the policies in 2013. This legislation does not cover penalties, refund eligibility for previous tax years, and interest liabilities. All the tax reductions mentioned in this legislation are expected to come into effect by 2016. Till then, the taxpayers will receive prompt updates about their property tax bills with regard to this reduction. So before filling the tax returns, the residents need to read the property bills on this reduction, and then file their returns accordingly. This reduction will not impact homeowners, but it will have a substantial impact on commercial property owners as it will help them save on tax.

Aggrieved taxpayers, who are depending on the House Bill 100, need to keep a few things in mind. House Bill 100 was passed in 2012, and it aims at helping the residents by giving them a forum to request for different types of appealable taxes. However, this bill is applicable to only a certain group of taxpayers. So the residents filling taxes with the Georgia Tax Tribunal need to confirm if they fall under the qualifying groups or not. These groups are mentioned in the Chapter 5, Title 48 – public utilities, Article 11, and under “Airline companies” in Article 12.

Tax Professionals' Resource