You can get information about your property tax benefits, including: Application status, Current benefit amounts, Proposed benefit for the upcoming tax year. Determine your home's current market value.Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. Though all property is assessed, not all of it is taxable. See a list of common property tax exemptions in New York State. Senior Citizen Homeowners' Exemption (SCHE). Eligibility. In New York, the homestead exemption applies to real property, including your home, condominium, or co-op. It also applies to a mobile home. Federal law requires that you live in the property for at least 40 months prior to the bankruptcy.