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.If you own and live in a house in Fulton County, you may qualify for homestead exemption. Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. Accept and process homestead exemptions; Accept and process property returns; Accept and process property assessment appeals; Compile the annual digest values. Sales tax rate lookup and sales tax item calculator. There are a number of exemptions that can reduce assessed value (and therefore property tax payments) in Illinois.