Four Exemptions to Reduce Your Fulton County Tax Assessment

Posted by Jill Noelle Olandria on Jun 30, 2015 11:30:00 AM

Many property owners will have complaints or concerns about their Fulton County tax assessment notices particularly in terms unreasonable assessments. While appeals can be filed against the assessment, property owners are well-advised to look into homestead exemptions first. Once approved, these exemptions will reduce the property tax payable without the usual hassles involved in the appeals process.

You have several types of exemptions available. Ask your tax consultant about the eligibility requirements, supporting documents, and steps for each type of exemption.

Be sure to apply for the exemption on or before April 1 of the current year. You will only apply once since your approved exemption will be automatically renewed every year unless there are changes, such as change in ownership or change in status as primary residence. Your Fulton County tax should reflect the change.

Fulton_County_Tax_Assessment

#1 Basic Exemption

The basic exemption provides the taxpayer with a $30,000 deduction in the Fulton County and the City of Atlanta. You can be eligible for the exemption when you are a:

  • Legal resident of Atlanta City and Fulton County
  • Legal owner and occupant of your primary residence as of January 1

This exemption is one of the most generous of its kind so be sure to ask about it when looking for ways to reduce your Fulton County tax assessment.

#2 Statewide School Tax Exemption

This is a $10,000 exemption for property owners that meet the following requirements:

  • Must be 62 years old on or before January 1
  • Net income of $10,000 or less
  • Social security, pensions and railroad retirement incomes count only when these exceed the minimum amount that the spouse can receive under Social Security

Keep in mind that there is a fine print for the Statewide School Tax Exemption, thus, the importance of discussing it with your tax consultant.  

#3 Tax Deferral for the Elderly

You should contact the Tax Commissioner’s office about the conditions for the tax deferral. In general, the qualification requirements include:

  • Must be 62 years old on or before January 1
  • Present proof of extended coverage and fire insurance

You should submit your application for tax deferral by April 1 on an annual basis. You must be aware, too, of the additional income requirements, lien restrictions, and assessment requirements for all deferred taxes.

#4 Freeze for Senior Citizens

Yet another Fulton County tax assessment exemption for senior citizens is the freeze. You must meet these eligibility requirements:

  • 65 years or older on or before January 1
  • Annual household income not exceeding $39,000 in the previous taxable year

Note: The program effectively freezes your residential property’s value based on its previous year’s value. The frozen value will remain as the property’s value for as long as you occupy the property as your primary residence.

When you are not legible for any of the Fulton County tax assessment exemptions for any reason, your next step should be filing a property tax appeal. Ask the Fair Assessments team for professional assistance, thus, increasing your chances for a winning appeal.

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