Are you feeling a bit financially strained right now? That's totally understandable with inflation as high as 13% and paying an average of $600 more each month due to inflation according to this source.
Thankfully, here's some good news for you. Governor Kemp has included a one-time Property Tax Relief Grant is a budget proposal by Governor Brian Kemp to refund $950 million in property taxes back to homestead owners in the Amended Fiscal Year 2023 budget.
The Department of Revenue in the Amended Fiscal Year 2023 budget, the Department of Revenue will be able to reduce the assessed value of Georgia homesteads by $18,000. Here is how the process works.
First, the property tax bills are prepared. Then local tax officials notify the Department of Revenue of the total anticipated revenue if all applicable millage rates were applied to all qualified homesteads. Then the Department of Revenue issues credits. Lastly, the funds are allocated based on local taxing authorities reducing a taxpayer’s liability.
As the resident and homeowner, you will get a notice on the property tax bill which states that the reduction comes from the Governor and the General Assembly. For more info, go right here. Please be sure to take advantage of this program so you can reduce the amount you owe in property taxes.
What do you think of this tax rebate?
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Disclaimer: Please note that the information in this article for NewsBreak is only for educational and informational purposes.