Georgia Title & Escrow Company

Example.
A tax bill issued on July 1st of a given year would cover taxes for that specific year.  For further clarification, a bill issued in the Fall of year 2020 would cover property taxes for all of 2020 and not for any of year 2019 or 2021.

You're closing in the middle of the year...
How are taxes treated at closing if the seller has already paid the tax bill? Or, what if the tax bill has already been paid? The purpose of calculating prorations is to ensure that both buyer and seller pay their fair share of the total tax bill. The following explains how taxes and other prorated items are treated at closing—

Property tax exemptions in the State of Georgia are offered at the State level and at the County level. The information below discusses the Homestead Exemption in general, since this exemption is perhaps the most widely used. It is important to note that County specific exemptions are generally better than their State counterparts and, in addition, there may be more or different exemptions than those at the State level. Therefore, individual County tax commissioner offices are the best source for comprehensive exemption information available.

Homestead Exemption
Generally, a homeowner is entitled to a homestead exemption on their home and land underneath provided the home was owned by the homeowner and was their legal residence as of January 1 of the taxable year. (O.C.G.A. § 48-5-40)

Criteria for Homestead Exemption
To be granted a homestead exemption, a person must actually occupy the home, and the home is considered their legal residence for all purposes.  Persons that are away from their home because of health reasons will not be denied homestead exemption.  A family member or friend can notify the tax receiver or tax commissioner and the homestead exemption will be granted. (O.C.G.A. § 48-5-40)

WHERE the Homestead Exemption is Filed
Application for homestead exemption must be filed with the tax commissioner's office, or in some counties the tax assessor's office has been delegated to receive applications for homestead exemption. 

WHEN the Homestead Exemption is Filed
A homeowner can file an application for homestead exemption for their home and land any time during the calendar year. To receive the homestead exemption for the current tax year, the homeowner must have owned the property on January 1 and filed the homestead application by the same date property tax returns are due in the county. Property tax returns are required to be filed by April 1. Homestead applications that are filed after this date will not be granted until the next calendar year. (O.C.G.A. § 48-5-45)

Penalties for Failing to File
Failure to apply by the deadline will result in loss of the exemption for that year.  (O.C.G.A. § 48-5-45)

The purpose of a Real Property Tax Return is to advise the county tax assessor's office of a change in value. Since each county is required to assess every parcel in its jurisdiction every year, filing a return is a proactive way to put the assessor on notice of a change in value. In the context of a property purchase, for example, if the sales prices is less than the county's appraised value, it may be helpful to file a return in the current year, since the assessor may not pick up on the recent sale until the following year.


HOW is Filing Used
Filing a Property Tax Return will–

• Notify the county of a decrease in property value, for example, where a property has recently sold.
• Notify the county of an increase in property value, for example, where the property is improved before the next county assessment.
• Notify the county of a change of mailing address.
• Notify the assessor of disputed value, before filing a tax appeal.

WHAT Form is Used
PT-50R

WHO Should File
Residents and non-residents that own real property in Georgia.

WHEN to File
Property tax returns are required to be filed by April 1. 

WHERE to File
The Tax Commissioner or the Tax Assessor in the county where the property is located. 

For More Information
Contact your local tax assessor or commissioner's office.