Exemptions

If you have property that meets certain guidelines and laws, you may be eligible for exemption from ad valorem taxation (such as school, church or agricultural use).

*Important exemption information - The Floyd County Board of Assessors cannot accept mail-in applications for homestead exemption.

Certain information must be collected when filing for homestead exemption and that information can mean the difference between granting or denying the exemption. If you are unable to come into our office, please call in advance and we will make arrangements to help you. Because of this, any exemptions that are mailed in without contacting us in advance are subject to denial.

Homestead Exemption

If you own your home and it is your principle residence, you can qualify for a homestead exemption the year the property becomes your primary residence up to and including April 1 of the following year. If you are above a certain age and have the qualifying income, you may be eligible for additional amounts of exemption. If you are a 100% disabled veteran, you may be eligible for additional amounts of exemption.

Several types of Homestead Exemptions have been enacted to reduce the burden of ad valorem taxation for Georgia homeowners. The exemptions apply to homestead property owned by the taxpayer and occupied as his or her legal residence(some exemptions apply to this rule and your tax commissioner can explain them to you.)

To receive the benefit of the homestead exemption, the taxpayer must file an initial application. In Floyd County, the application is filed with the Board of Assessors. The application can be filed during the year of the property becoming the primary residence up to and including March 1 of the following year. Once granted, the homestead exemption is automatically renewed each year unless the taxpayer seeks to qualify for a different kind of exemption.

Under authority of the State Constitution, several different types of homestead exemptions are provided. In addition, local governments are authorized to provide for increased exemption amounts, and Floyd County has done so. The Tax Commissioner's office and the Assessors' office can answer questions regarding the standard exemptions as well as any local exemptions that are in place.

Regular Homestead Exemption

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption. There are no age or income requirements.
• Amount of exemption: up to $2,000 of assessed value of the property for state and school purposes and up to $5,000 of assessed value of the property for county purposes. 
• Time for applying: the year of the property becoming the primary residence up to and including April 1 of the following year.

Floating Homestead Exemption - Age 62

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption.
  • Owner must be at least 62 years old on January 1 of the year of application.
  • Federal adjusted income of both spouses and any other family member living in the residence (such as son, daughter or other relative) cannot exceed $30,000 including social security and pensions.
  • Give up any existing homestead exemption for state and county taxes but not school taxes.  In many instances, the granting of this exemption will initially, at least, increase the amount of taxes levied on the property.
• Amount of exemption: The difference in assessed value of the base year (previous year assessment from the year application is made) and current year assessment on the primary residence and no more than 5 contiguous acres.
• Time for applying: The year of the property becoming the primary residence up to and including April 1 of the following year.

The Homestead Freeze

Rome and Floyd County voters passed local legislation in 2002 for 2003 that froze 2002 Homestead values for County and City taxes, but not for state or school taxes. As market values of homestead properties increase due to inflation, the homestead exemption will increase to offset. If a property sells to a new owner and if a homestead exemption is acquired, the free will start with the current market value.

School Tax Exemption - Age 62

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption.
  • Owner must be at least 62 years old on January 1 of the year of application.
  • Total income of both spouses and any other family member living in the residence (such as son, daughter or other relative) cannot exceed $25,000 from all sources, including social security and pensions, or net income of both spouses only cannot exceed $10,000 excluding social security and pensions up to an amount set each year by the state.
• Amount of exemption: The greater of $10,000 or one-half of the assessed value of your homestead residence/homestead garage and one acre of homestead land for total income or, in case of the net income requirement, $10,000.
• Time for applying: The year of the property becoming the primary residence up to and including March 1 of the following year.

School Tax Exemption - Age 65

• Requirements:
  • Own your home and reside in it on January 1of the year in which you apply for the exemption.
  • Owner must be at least 65 years old on January 1 of the year of application.
  • There are no income requirements.
• Amount of exemption: $40,000 of the assessed value of your homestead residence/homestead garage and one acre of homestead land.
• Time for applying: The year of the property becoming the primary residence up to and including April 1 of the following year.

School Tax Exemption - Age 75

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption.
  • Owner must be at least 75 years old on January 1 of the year of application.
  • Total income of both spouses and any other family member living in the residence (such as son, daughter or other relative) cannot exceed $30,000 from all sources, including social security and pensions.
• Amount of exemption: All of the school tax liability on your homestead residence/homestead garage and one acre of homestead land.
• Time for applying: The year of the property becoming the primary residence up to and including April 1 of the following year.

Qualified Disabled Veteran Exemption –

Un-remarried Surviving Spouse of Disabled Veteran; Un-remarried Spouse of US Service Member Killed in Action

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption.
  • Be a disabled veteran who was discharged under honorable conditions and who has been adjudicated by the Veterans' Administration of the United States as being totally and permanently disabled and entitled to receive service connected benefits so long as you are 100 percent disabled. You must be receiving or entitled to receive benefits for 100 percent service connected disability. Be an un-remarried surviving spouse of a disabled veteran or a a US Service Member killed in action.
  • There are no age or income requirements.
• The amount of the exemption is determined by the Georgia Department of Revenue and changes yearly.
• Time for applying: The year of the property becoming the primary residence up to and including April 1 of the following year.

Un-remarried Surviving Spouse of a Firefighter or
Peace Officer Killed in the Line of Duty

• Requirements:
  • Own your home and reside in it on January 1 of the year in which you apply for the exemption.
  • Be an un-remarried surviving spouse of a firefighter or peace officer killed in the line of duty.
• Amount of Exemption: 100% of the property value.
• Time for Applying: The year of the property becoming the primary residence up to and including April 1 of the following year.

Preferential Assessment

• Requirements:
  • Tangible real property of 2,000 acres or less that is devoted to "Bona Fide Agricultural Purposes" may receive a preferential assessment. The owner has to sign a 10 year covenant dedicating the property for agricultural use for the ten years.
• Amount of exemption: The assessed value of the dedicated property will be reduced by 25%.
• Time for applying: January 1 until April 1 of the year of application.

Conservation Use Assessment

• Requirements:
  • Tangible real property of 2,000 acres or less that is devoted to "Bona Fide Conservation Use Property,” “environmentally sensitive property certified by the Department of Natural Resources and maintained in its natural condition,” or tangible real property of 5 acres or less that is "Bona Fide Residential Transitional Property" may receive a conservation use assessment. The owner has to sign a 10 year covenant dedicating the property for conservation use or residential use for the ten years.
• Amount of exemption: For conservation use property, the exemption is the difference between the conservation use value determined by the State and the market value determined by the Board of Assessors. For residential transitional property, the property retains its residential value as determined by the Board of Assessors.
• Time for applying: January 1 until April 1 of the year of application.

Freeport Exemption 

If you are a manufacturer and you meet certain criteria, you may be eligible for Freeport Exemption on certain portions of the inventory you have on January 1 each year. Freeport Applications are filed annually.

• Requirements:
  • Inventories of goods in the process of manufacture, finished goods in the hands of the producer for 12 months, finished goods stored that are destined to be shipped out of Georgia within 12 months are eligible for this exemption.
• Amount of exemption: 100% exemption for the value of the designated property, if filed by April 1, or a graduated exemption if the application is filed after April 1, but on or before June 1.
• Time for applying: January 1 until April 1 of year of application to avoid a penalty or until June 1 with a penalty.

PT-50PF Application for Freeport Exemption Inventory

Agricultural, Aircraft and Marine Personal Property Reports

If you have any livestock or farm equipment, you should file a personal property report giving descriptions of those items.
PT-50M Marine Personal Property Tax Return
PT-50A Aircraft Personal Property Tax Return
PT-50P Agricultural Business Personal Property Tax Return

Where to File

Floyd County Tax Assessor's Office
4 Government Plaza
Rome, GA 30161

Suite 203 - Real Property Tax Returns and Homestead Applications
Suite 213 / Personal Property Division - Personal Property Tax Returns, Business Returns and Freeport Exemption Applications

Floyd County and Rome City Property Taxes are paid in the Tax Commissioner's Office on the first floor.

Additional Exemption Requirements

In the year of application for exemptions with income requirements, income to be reported is from the previous year. Income reported will have to be verified with Federal Income Tax returns, Georgia Income Tax returns, Social Security statements, Pension statements, Interest statements or any other income statements you may have. All such applications require the signing of an affidavit, under oath in the presence of a notary public 

Under Penalty of Law

In the year of application for the Veteran's exemption, applicants must present a letter from the Veterans' Administration defining their condition. With respect to all homestead exemptions, the Board of Assessors makes the final determination as to eligibility; however, if the application is denied the taxpayer must be notified of an appeal procedure that is available for the taxpayer.

If you have any questions concerning these exemptions, please contact the Floyd County Tax Assessor's Office at 706-291-5143 or Floyd County Tax Commissioner's Office at 706-291-5146.