Rule 560-11-2-.49 - School Tax Homestead Exemption-Qualifications(1) The applicant must be 62 years of age or older on or before January 1 of the year for which the exemption is claimed.(2) The applicant's total gross income from all sources, including the gross income from all sources of all members of the family residing within the homestead, for the immediately preceding calendar year shall not exceed $6,000. (a) For the purposes of this exemption, the term "gross income from all sources" shall mean and include all income from wherever and whatever source derived, including (but not limited to) the following items: 1. compensation for services, including fees, commissions, and similar items;2. gross income derived from business;3. gains derived from dealings in property;8. alimony and separate maintenance payments;9. income from life insurance and endowment contracts;12. income from discharge of indebtedness;13. distributive share of partnership gross income;14. income from an interest in an estate or trust;15. Federal old-age, survivor, or disability benefits.(b) Income for all members of the family residing within the homestead shall be measured using the same definitions as used to measure claimant's income.(c) For the purposes of this exemption, the term "all members of the family" shall mean and include all persons related, in any degree, to the claimant by blood, marriage, or otherwise by law (e.g. adoption).Ga. Comp. R. & Regs. R. 560-11-2-.49
Ga. L. 1937-38, Extra Sess., pp. 77, et seq., as amended; Ga. Code Ann., Secs. 92-8405, 8406, 8409, 8427; Ga. L. 1974, pp. 183, et seq.
Original Rule was filed on January 15, 1975; effective February 4, 1975.