To qualify, you must own and reside in your home on January 1 of the year application is made and cannot claim a homestead exemption on any other property. GENERAL INFORMATION: Property owners applying for a residence homestead exemption file this form and supporting documentation with the appraisal district in.How do I apply for a homestead and over 65 tax exemption for my residence? Homestead exemptions can help lower the property taxes on your home. Here, learn how to claim a homestead exemption. A general residence homestead exempts a portion of your residence homestead's value from taxation, potentially lowering your taxes. I'm going to show you how to file your homestead exemption in Dallas County Texas. How can I find out what my listed exemptions are? How Do I Apply for an Exemption and Fill Out a Homestead Exemption Form? This exemption reduces the taxable value of your home, which in turn lowers the amount of taxes you have to pay on your house.