There are no income and homestead value limits for categories 4V, 4S, 5, and 7. The. Download this form to apply for a residential homestead exemption.The Nebraska homestead exemption program is a property tax relief program for three categories of homeowners: A. Persons over age 65;. B. How to Apply for Homestead Exemptions Homestead applications must be filed with the county assessor after February 1, and on or before June 30 of each year. In Collin county, it's just a form you mail in or submit in person. The most common is the homestead exemption, which is available to homeowners in their primary residence.