Any veteran age 65 and older may qualify for a homestead property tax discount if the veteran has an honorable discharge from military service. The surviving spouse of an honorably discharged veteran who had a service-connected disability of.Any Veteran age 65 and older may qualify for a homestead property tax discount when the veteran:. The most common real property exemption is the homestead exemption. Applicants must file a Form CC-501 – Original Application for Homestead and Related Tax Exemptions, to apply for the homestead exemption on the new homestead. What is a Homestead Exemption?