The applicant and the applicant's spouse must be residents of Mississippi to be eligible for homestead exemption benefits. To apply for Homestead Exemption for the first time, you need to come to the Tax Assessor's Office located at 365 Losher Street, Suite 100, Hernando, MS 38632.STATEMENTS. This claim may be used to file for the Homeowners' Exemption for the Assessment Roll and the Supplemental Assessment Roll. If a citizen qualifies for homestead exemption, the State of Mississippi exempts part or all of their ad valorem tax bill on qualifying property. To qualify for a homestead exemption the residence must be owner occupied. These can be filed between January 2nd and April 1st each year.