You must file with the county or city where your home is located. Each county has different applications and required documents.To be eligible for Homestead Exemption, applicant must: Own and reside in the property as your primary residence prior to January 1 of the tax year. A homeowner can file an application for homestead exemption for their home and land any time during the calendar year. 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. Instructions for Completing Your Application. The deadline to apply for a homestead exemption is April 1 to receive the exemption for that tax year. A homestead exemption significantly reduces the amount of annual property taxes homeowners owe on their legal residence. Homestead Exemption is one way to reduce the amount of property tax you pay on your residential property.