A homestead exemption reduces the amount of property taxes homeowners owe on their legal residence. A homestead protects some of the equity in your home.If you live in the home you own, you already have an automatic homestead exemption. To benefit from this exemption, you need to file a claim form with the Los Angeles County Assessor's Office. So, a homestead exemption is a legal provision designed to protect the value in a principal dwelling place. Exempt proceeds from a voluntary sale are protected if another home is purchased within 6 months. Georgia Amendment 1 would allow counties to reduce the amount of property taxes that a homeowner pays on their primary residence.

Georgia Homestead Exemption Explained In Los Angeles

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