A homestead exemption reduces the amount of property taxes homeowners owe on their legal residence. You will be asked to enter information such as your Parcel ID, Owner's Name, or Property. Address.Upon filing, submit a copy of your Georgia driver's license or Georgia ID with the property address you are applying for the exemption on. A homestead exemption significantly reduces the amount of annual property taxes homeowners owe on their legal residence. 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. Several types of homestead exemptions have been enacted to reduce the burden of ad valorem taxation for Georgia homeowners. Property owners must not be receiving a homestead exemption on any other property, including properties in other Georgia counties or in other states. You must own and occupy your home as your primary residence (181 days or more) on January 1st of the tax year.