The homestead exemp- tion provides a reduction in property taxes to qualified senior or disabled citizens, or a surviving spouse, on the dwelling that is that. The property owner must be 65 or older.Property must be the owner's primary residence. The homestead exemption allows lowincome senior citizens and permanently and totally disabled Ohioans, to reduce their property tax bills. All property in Arizona is subject to property taxation, unless specifically exempted under the laws of the. The Homestead Exemption is a program that lowers real estate taxes for Ohio residents 65 years of age and above, and those with disabilities. You may qualify for reduced water and sewer rates under the Homestead Exemption if you are at least 65 years of age or totally disabled, live in the home, You may qualify for reduced water and sewer rates under the Homestead Exemption if you are at least 65 years of age or totally disabled, live in the home, The states with the lowest effective property tax rates were concentrated in the South and West, while the highest were in the Northeast and Midwest. This exemption is often referred to as a homestead exemption for seniors and sometimes as a "senior freeze.