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. Homestead exemptions are deducted from the assessed value of the qualifying property (40% of the fair market value).

To receive the benefit of the homestead exemption, the taxpayer must file an initial application. In Lowndes County the application is filed with the Tax Commissioner. With respect to all of the homestead exemptions, the Board of Tax Assessors makes the final determination as to eligibility; however, if the application is denied the taxpayer must be notified and an appeal procedure then is available for the taxpayer.

Georgia law allows for the year-round filing of homestead applications but the application must be received by March 1 of the year for which the exemption is first claimed by the taxpayer. Homestead applications received after that date will be applied to the next tax year.
Once granted, the homestead exemption is automatically renewed each year and the taxpayer does not have to apply again unless there is a change of residence, ownership, or 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. These are called State Exemptions. In addition, local governments are authorized to provide for increased exemption amounts. These are called Local County Exemptions. Lowndes County has such local county exemptions. The Local County Exemptions supersede the State Exemptions when the Local Exemption amount is greater than the State Exemption amount. The Tax Commissioner can answer questions regarding the standard exemptions as well as any local exemptions that are in place.

Available Lowndes County Homesteads (these are State & Local exemptions combined):

Business Inventory Tax Exemption: Both Quitman and Brooks County offer a 100% Freeport tax exemption on the following classes of personal property: 1) Manufacturers' raw materials and goods-in-process inventory; 2) Manufacturers' finished goods held by the original manufacturer; 3) Warehouse, distribution, or manufacturing firms with finished goods destined to be shipped outside Georgia.

State sales tax exemption on certain classes of manufacturing equipment and for equipment used for controlling air and water pollution. Exemption for 4% state sales tax and up to 3% local sales tax authorized for eligible machinery - 7% total possible sales tax exemption on eligible manufacturing and/or pollution control equipment.

The Jobs Tax Credit provision allows for a statewide job tax credit of $3,500 for any business or headquarters of any such business engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries, but does not include retail businesses. The company is entitled to the tax credit provided it hires 5 or more full time employees. An extra bonus credit of $500 per job tax credit is available because Brooks County is a member of a Joint Development Authority.
Education Tax Credit: The company is also eligible for a $150 corporate income tax credit for each employee successfully completing an approved employer-provided basic skills education program. Firms providing retraining for employees may receive a tax credit of 50 percent of their costs, up to $500 per participant, to a maximum of 50 percent of state income tax liability.

Employer Incentive Program (EIP): Low interest loans are available to qualified recipients through the city or county governments.

Local Revolving Loan Funds (RLF): Both the City of Quitman and Brooks County Boards of Commissioners administer revolving loan funds that have been capitalized by CDBG projects previously approved by the State of Georgia.

OneGeorgia Authority: Funding may be available through grants and low interest loans to qualified recipients.

Based on number of jobs created, capital investment and through negotiation, the Brooks County Development Authority can individualize an incentive package for each prospect.
The City of Quitman Board of Commissioners, Brooks County Board of Commissioners and Brooks County Development Authority will pursue grants or low interest loans to assist with infrastructure and building needs.

The BCDA will work with the regional Department of Labor in recruiting employees.
Other state and local incentives may be available.