There are no income and homestead value limits for categories 4V, 4S, 5, and 7. The. 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. While all homeowners may qualify for a basic homestead exemption, there are also many different exemptions available for seniors and people with full. The Nebraska homestead exemption program is a property tax relief program for three categories of homeowners: A. Persons over age 65;. B. If the claimant's homestead assessed value is equal to the exempt amount, the exemption amount is then subject to the maximum value limitation. How to Apply for Homestead Exemptions Homestead applications must be filed with the county assessor after February 1, and on or before June 30 of each year. Homeowners age 65 or older may apply for an exemption from all state property taxes.