Georgia Senior Floating Inflation-Proof Homestead Exemption

What the Age-62 Floating Exemption Does

A tax exemption removes part of your home’s assessed value from a tax calculation. It does not send you cash. Georgia normally values property for tax purposes at a share of its market value. The age-62 floating exemption focuses on natural growth in assessed value after a base year, for the county-purpose part of your tax bill.

Georgia’s homestead exemption guide describes this program for people age 62 or older. Its legal name comes from Georgia Code § 48-5-47.1. That law uses the assessed value from the tax year before the exemption first starts as the base year.

If the assessed value rises because the market rises, some of that increase may be exempt from county-purpose taxes. But the law does not exempt new improvements made after the base-year date or new land added to the homestead. If you remove land from the homestead, the office must adjust the base-year figure.

The homestead covered by this exemption is the main home plus no more than five adjoining acres.

The state’s overview says a homeowner whose appraised value increased by more than $10,000 may benefit. That is a helpful sign to ask for a comparison, not a separate $10,000 entry requirement stated in § 48-5-47.1.

For a broader picture of Georgia’s other exemptions, read the existing Georgia property-tax guide. This page stays focused on the age-62 floating choice.

Who May Qualify

The state law lists five key tests. You must be at least 62 on January 1 of the application year. You must have a Georgia homestead, meaning the home you own and use as your legal residence. Your prior-year income must meet the special household test. You must apply through the county. The relief only covers the eligible home and land.

The statute sets a $30,000 maximum for income in the previous tax year when the applicant’s income is combined with the spouse’s income and the income of other people living in the home. Its definition of income is federal adjusted gross income. The application rule also asks for gross income details so officials can decide eligibility.

That difference matters. Floyd County’s exemption instructions tell applicants that its stated $30,000 test includes Social Security and pensions. That description does not line up neatly with the statute’s federal-adjusted-gross-income definition, because not all Social Security received is included in federal adjusted gross income. Do not subtract or include income on your own assumption. Ask your county for its written worksheet and the authority for each amount it counts.

If an adult child or another person lives with you, tell the office before applying. Do not assume only your own income matters.

County and City Limits: What to Check Locally

The age-62 floating exemption is set out in Georgia state law for county taxes. It should not be described as a city-by-city grant that must first be adopted locally. But the county administers the application, and other local laws can change which exemption is best on your parcel.

The senior floating amount does not reduce municipal or county school-district education taxes. It also leaves out county taxes used for interest on and retirement of bonded debt. A homeowner inside city limits may get a separate bill with its own city exemption.

For example, the DeKalb County tax office lists several senior age and income tiers, a county assessment freeze, and distinct city exemption rules.

Floyd County separately warns that choosing its listed age-62 floating option may initially increase taxes because the owner gives up another state or county exemption while keeping the applicable school relief.

If you need a wider explanation of why nearby owners get different results, see why property-tax rules differ.

Compare Before You Give Up an Exemption

Section 48-5-47.1 says the floating senior exemption is in place of, not added to, other county-purpose homestead exemptions. You should not add its estimated saving to a separate county senior exemption and expect both. School and municipal exemptions must be checked under their own rules.

A simple decision example: A homeowner has an existing county exemption and a rising market assessment. The floating option might protect more value in later years. But if the current county exemption removes more taxable value now, switching may increase the first bill.

For help with income documents, our Georgia senior tax guide explains the difference between federal and Georgia tax measures.

Do Not Confuse the 2026 Grant With the 2027 Floating Rules

The one-time 2026 Property Tax Relief Grant

Georgia’s 2026 relief-grant page says the state approved a one-time reduction of $18,000 in assessed value for eligible 2026 homesteads. This is a reduction used to work out covered property taxes, not an $18,000 payment. The state sends funds to taxing authorities, and the tax bill reflects the credit.

It applies only to eligible homesteads with covered tax liability left after other relief. The City of East Point’s 2026 city notice confirms that eligible homeowners there do not need a separate grant application and may see the city credit on a separate city bill.

The general floating base-year exemption and 2027

Georgia also has a separate general base-year homestead exemption under Code § 48-5-44.2. That is the HB 581 floating system. It is not the age-62, income-tested program under § 48-5-47.1.

Under the earlier HB 581 rollout, county, city, and school taxing bodies could make different opt-out decisions. Georgia’s 2026 legislative update reports changes under SB 33, including removal of the opt-out path and a general statewide floating rule applicable from January 1, 2027, using 2026 values as its baseline.

The signed SB 33 text amends the general base-year system. Your county must still explain how it interacts with an existing local freeze and your senior county exemption for your tax year.

How to Apply Without Wasting Time

1. Check the year. For current-year homestead eligibility, you ordinarily must have owned and occupied the home on January 1. The state’s homestead instructions list April 1 as the standard filing deadline and describe a possible filing route during the 45-day assessment appeal window. Ask your county which deadline applies to this special exemption.
2. Ask for the right application. Contact your county tax commissioner. In counties where the assessor accepts homestead applications, the office can route you. You can find a state homestead forms listing, but do not mail an application to the state revenue office instead of your county.
3. Give your age and income details. The senior floating statute calls for a signed application and enough household-income information for the county to make a decision. Ask for a written explanation if the office counts a payment differently from federal adjusted gross income.
4. Ask for the comparison in writing. Request current and proposed exemption codes, what is lost, the base year, and the estimated county and school portions of the bill.

Once properly approved, the statute provides for automatic annual renewal while the home remains your homestead. You must tell the county if you stop qualifying. That is not permission to ignore an income change, a move, or a later audit.

If Your Application Is Late, Denied, or Looks Wrong

First ask whether the problem is homestead eligibility, the senior income test, the value assessment, or the bill calculation. These may involve different offices and different review paths. Request the written reason for a denial and keep its date.

If the assessed value itself is wrong, the county board of tax assessors handles that challenge. The state assessment appeal instructions say the appeal normally must reach the board within 45 days of the assessment notice being sent.

If you cannot pay the bill, contact the tax commissioner about payment and delinquency options. An application or appeal does not by itself make a tax bill disappear.

Common Mistakes and Reality Checks

• Calling it a grant. The age-62 program is an exemption. The 2026 statewide grant is a different, one-time bill credit.
• Assuming all taxes freeze. City, school, bond, and other charges may remain.
• Adding county exemptions together. The age-62 floating exemption replaces other county-purpose homestead exemptions.
• Ignoring other household income. The statutory income test includes other people who live in the home, subject to the governing income definition.

For free help understanding a return before supplying it to the county, our tax-help guide lists assistance routes.

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