For an application please call 1(800) 882-6597 or visit NJ Division of Taxation - NJ Division of Taxation - Senior Freeze (Property Tax Reimbursement) (state. Exemption applications must be filed with your local assessor's office.See our Municipal Profiles for your local assessor's mailing address. The exemption takes the form of a credit on property tax bills. How long is my application good for? Indefinitely. Unless, you change your residence, mailing address or sell the property. Advantage of Homestead Exemptions. One of the easiest ways a homeowner can lower his or her property tax bill is to file a homestead exemption. The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." An application must be completed and filed in the Property Valuation Office along with documentation verifying age.