A property tax exemption is like a discount applied to your EAV. If you qualify for an exemption, it allows you to lower your EAV.11 Do you have a homestead improvement exemption on any other property in Illinois? In general, vacant land is deemed as not proving use. If you wish to apply for an exemption to the property tax, please complete all applicable sections of this. In the event of a sale of homestead property, the homestead exemption shall remain in effect for the remainder of the assessment year of the sale. Fairfax County provides real estate tax relief and car tax relief to citizens who are either 65 or older, or permanently and totally disabled. (d) A person who will be 65 years of age during the current assessment year shall be eligible to apply for the homestead exemption during that assessment year. Most homeowners are eligible for this exemption if they own and occupy their property as their principal place of residence.