A homeowner can only have one homestead exclusion. A homestead exemption reduces the amount of property taxes homeowners owe on their legal residence.Allegheny County has several programs that may help to reduce or eliminate a property tax bill. If you own and live in a house in Fulton County, you may qualify for homestead exemption. The purpose of this guide is to help Fulton County residents learn. Property tax reduction will be through a "homestead or farmstead exclusion. Calculate how much you'll pay in property taxes on your home, given your location and assessed home value.