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 reduce the amount of property taxes owed on owner-occupied homes. Eligible Veterans must submit the initial exemption application form to the assessor. There is a deadline for filing. There are three different property tax exemptions available to veterans who have served in the US Armed Forces. There are no age or income requirements! PTAX-342 Application for Standard Homestead Exemption for Veterans with Disabilities (SHEVD). Step 2: Complete the disabled veterans' eligibility information. Senior Citizens Homestead Exemption (SCHE) 1971.