The dwelling may be a house, condominium, or mobile home. To qualify, you must live in the home as your primary residence.Individual exemptions may be granted for only one of these categories at a time and are subject to certain limitations, such as an assessed property value. Diverse Property Types: It covers a person's stake in different kinds of properties where they live. The Department recognizes three categories of property tax exemption: General. Restricted, and Individual. Any person eighteen years of age or over, married or single, who resides within this state may hold as a homestead exempt from execution and forced sale.