NOTE: Each individual owner, excluding married couples, residing on the property must complete a separate application to qualify for their exemption. Both owners must sign the application form and, if both owners otherwise qualify, the homestead exemption will be granted for the entire home.You may file a late application for a residential homestead exemption up to two years after the date the taxes become delinquent. Or disabled, may be filed up to two years after the deadline for filing has passed. They must have ownership interest in the property to qualify and would only receive a portion of the exemption based on the percent of ownership. How Do I Apply for an Exemption and Fill Out a Homestead Exemption Form? The difference between the two shows up as Homestead Cap on tax bills.