Higher Taxes: Cherokee County Seniors Hit With 5-year Tax Residency Rule!

Attention Cherokee County Seniors! Major changes are coming to the senior property tax exemption that could significantly impact your finances. In this eye-opening video, Darin Hunter and Andy Hartman of Hartman Law https://hartmanlawfirm.com/ break down the new 5-year residency requirement and how it alters the school tax waiver you've relied on.

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📢 What's Changing?

For years, homeowners aged 62 or older in Cherokee County, Georgia, have enjoyed an exemption that waived the school bond and school maintenance and operation taxes—the largest portions of your property tax bill. This exemption came with a home value cap , limiting the full benefit.

Starting Next Year:

Cap Removal: The home value cap is being eliminated, allowing you to benefit regardless of your home's increased value.
New Residency Requirement: A 5-year residency in your Cherokee County home is now mandatory qualify for the exemption.

💡 Why This Matters

This change could cost new residents thousands of dollars over the next five years. If you're planning to retire in Cherokee County or have recently moved, this affects you directly!

✅ Key Takeaways

File for Homestead Exemption:
Both spouses should file individually to ensure continuous benefits.
Protects you if one spouse passes away, preventing unexpected tax increases.

Act Quickly:
If you're turning 62 before the end of 2024, file promptly.
Avoid the 5-year waiting period and start saving immediately.

Realtors Reach Out:
Agents should inform past clients about these critical changes.
Provides valuable assistance and strengthens client relationships.

🏡 The Role of Closing Attorneys in Georgia

Understanding the complexities of real estate transactions is crucial. Andy Hartman highlights the importance of:

Title Examination:
Ensures your property's title is clear.
Prevents future disputes and legal issues.

Document Preparation:
Handles all necessary paperwork accurately.
Streamlines the closing process.

Funds Management:
Safely receives and disburses funds.
Mitigates risks like wire fraud.


🔐 Why Title Insurance is Essential

Protects Against Unforeseen Issues:
Shields you from fraudulent claims or undiscovered liens.
Even new construction homes aren't immune to title problems.

One-Time Purchase for Lifetime Security:
Provides peace of mind for as long as you own the property.

Stay Informed and Protected

By staying proactive, you can navigate these changes effectively, safeguarding your investments and financial well-being. Don't let unexpected tax increases catch you off guard!

📣 Call to Action

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🏷️ Hashtags

#SeniorTaxesIncrease #CherokeeCountyGA #PropertyTaxChanges #5YearResidency #SchoolTaxWaiver #GeorgiaRealEstate #HomesteadExemption #ClosingAttorney #TitleInsurance #StayInformed

Thank you for watching! Your financial well-being is our priority. See you in the next video!