While all homeowners may qualify for a basic homestead exemption, there are also many different exemptions available for seniors and people with full. The Homestead Exemption allows a tax discount for homeowners 65 years older and older or totally disabled.It is a form of Property Tax relief that reduces part or all the taxable value on your home. Mail your completed Form PTAX-324 to: FULTON. All Fulton County property owners who were age 65 and over as of January 1 can benefit from a senior exemption regardless of income. Homeowners must be over age 65, but the homestead exemption has no income limit. All Fulton County property owners who were age 65 and over as of January 1 can benefit from a senior exemption regardless of income. The first time you apply for homestead exemption, someone listed on the deed must complete an application form. How Do I … File a Homestead Exemption Application? The deadline to submit an exemption application is June 30 of each calendar year.