If you own and live in a house in Fulton County, you may qualify for homestead exemption. The purpose of this guide is to help Fulton County residents learn.A homestead exemption is a legal provision that helps to reduce the amount of property taxes on owner-occupied homes. The home must be your primary residence. You must have owned the property as of January 1. Anyone can apply for the Basic Homestead Exemption. Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.