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Health & Fitness

Safekeeping and Savings in 2012

Protect your savings and your valuables by using the Homestead exemption and examining your homeowners protection.

By Colleen's Contributor, Sarah Hogdon

Start the year protecting your new gifts and saving money!

The holidays are over, but the novelty of the new flat screen TV, exercise equipment and diamond earrings hasn’t worn off yet. While you are going about your daily business, it’s easy to forget these items add value to the contents of your home. January is a great time to look over your homeowners’ insurance policy to ascertain whether the replacement value of new purchases or gifts are covered in the event of theft, fire or other loss. Talk with your insurance agent to be sure these items are covered at replacement cost, and increase your personal property coverage, if needed.

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Another “must do” at the first of the year for Georgia residents is to file the standard homestead exemption documents if you haven’t already. It is a money-saving opportunity for primary residence property taxes for all types of properties (single family homes, townhomes, and condominiums). Unfortunately, many homeowners don’t realize they qualify for this property tax reduction. Some factors that qualify a homeowner for lower property taxes include:

  • Primary residence
  • Persons over age 62 (with restrictions)
  • Persons over age 65 (with restrictions)
  • Disabled veterans
  • Un-remarried surviving spouse of service member killed in action
  • Un-remarried surviving spouse of a firefighter or law enforcement agent killed in the line of duty.


In order to be eligible for any of the above exemptions, homeowners must occupy the home as their primary residence as of January 1st of the year in which they are filing. Investment properties or second homes are not eligible for this exemption. Each county has deadlines for filing exemptions. Some incorporated cities that collect property taxes have exemptions, too. When residents reach the age category exemption, they will need to file a separate exemption for that category. (The exemption is not automatically applied.) Even if you do not qualify for any of the categories, you may know someone who is. Please remind them or even help them file for the exemption. To find specific information and details see the websites listed below.

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Another little known money saver is the home assessment valuation property tax freeze exemption. Property taxes are based on current value assessment of property value. A property tax freeze helps offset future increases in property values which affect property taxes. This freeze does not affect school, city or state taxes. Homeowners who currently have homestead exemption must apply for this freeze. Thirty-six counties in Georgia and the City of Atlanta have property tax freezes available. The counties include: Baldwin, Barrow, Camden, Carroll, Chatham, Cherokee, Clarke, Cobb, Dade, DeKalb, Douglas, Effingham, Fannin, Floyd, Forsyth, Fulton, Gilmer, Glynn, Greene, Gwinnett, Habersham, Henry, Liberty, McIntosh, Meriwether, Murray, Muscogee, Oconee, Pierce, Putnam, Toombs, Towns, Walton, Ware, and White.

Look here for more information about the various homestead exemptions in Georgia.

Below are links to 10 metropolitan Atlanta county websites. Some counties allow application online or by mail; others require you to appear in person. It will take time to read through the websites, but the money saved will be worth the effort.

For readers in other states, check with your state and local governments to see if similar programs exist.

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