Online banking has been upgraded! The way you pay bills, send money, and make external transfers is now even easier. Take a look at these upgraded features here

Skip to Main Content
Online Access

Online Access

BankSouth offers immediate and easy access to your mobile and online banking. You can also apply for and review your ReadyLoan mortgage application.

Learn More

Mortgage

Mortgage

For over ten years, BankSouth has helped thousands of families finance their homes.  We know how daunting this may be, but we take the worry and hassle out of the process.

Learn MoreStart Your Application

What is Homestead Exemption?

Mar 25, 2020 Mortgage Speak

How to Lower Property Taxes with Homestead Exemption

If you have recently closed on a home in the past calendar year, you are able to take advantage of a homestead exemption. A homestead exemption exempts a portion or a flat dollar amount of your home’s value from your annual property tax bill. To qualify, the homeowner must reside in the home and it cannot be a rental or investment property.

The deadline to file your homestead exemption application is April 1.

How much does my city or county exempt from my taxes?

To confirm the amount that your city or county exempts from your property’s value, contact your local tax assessor’s office for that information. The deadline and document requirements may be different for each area. For Georgia, South Carolina, and Florida residents, see the links below for resources on your local homestead exemption information:

Homestead Exemptions for Seniors, Disabled, and Military Personnel

Senior Citizen and Disabled Homestead Exemptions

Georgia, South Carolina, and Florida all have tax exemption programs for senior citizens and disabled homeowners that live in those states. The eligibility requirements such as age, income, and residency restrictions, vary from state-to-state, so be sure to check with your local tax assessor’s office. Disabled homeowners may need to provide documentation from the Social Security Administration showing proof of disability.

Military Homestead Exemptions

All BankSouth Mortgage’s main service areas, Georgia, South Carolina, and Florida offer special homestead exemption for active and veteran military service members whether they serve during peacetime or wartime. Requirements vary by city and county which means that all veterans or military members may not qualify.

Avoid Homestead Exemption Scams

Homestead exemption programs are not immune to scams, so be on the lookout for services that ask you to pay to file your applications. There is no fee to file an application for homestead exemption. Go directly to your local tax assessor’s office to file your application. For free!

After the first year of being in your new home, taking advantage of a homestead tax exemption can be a much welcome relief because of the unexpected expenses you may have encountered as a new homeowner. So be sure you file your homestead tax exemption by April 1 to take advantage of some financial relief.

Recent Posts

View our latest news and get the latest industry updates on our blog.

The best mortgage experience features equal amounts of digital convenience and personal service that ultimately put you – the homebuyer - at the center of everything. There are many trade-offs to make when buying a home.  Settling for an inefficient,...
The year 2022 started off and running just like 2021. Real estate agents were seeing record numbers during the holidays, and seller expectations were for a quick contract to sell in one day or off-market. For buyers who still had...
Best practices for Making a Confident Decision Whether a first-time, second third, or fourth, a new home purchase is a different experience each time. And each time there will inevitably be outside influences providing their thoughts and tips about “best...