If you own and live in a house in Fulton County, you may qualify for homestead exemption. A homestead exemption is a legal provision that helps to reduce the amount of property taxes on owner-occupied homes.The home must be your primary residence. ❖ Form 458B, Certification of Disability for Homestead Exemption, must be submitted in the first application year and upon request. When applying for a homestead exemption, someone listed on the deed must complete an application. Anyone can apply for the Basic Homestead Exemption. If the property is in the City of Atlanta, Sandy Springs or Johns Creek, when the application for Homestead. At least in Fulton County, GA, no homestead exemption means no property tax cap. As a result, your property tax bill could go up significantly! In Georgia, homeowners are able to receive a significant discount on property taxes if the home is their primary residence.