Homestead Exemption is one way to reduce the amount of property tax you pay on your residential property. You must file with the county or city where your home is located.Each county has different applications and required documents. To receive the benefit of the homestead exemption, the taxpayer must file an initial application. For more information regarding filing instructions, contact your county tax officials. General Residence Homestead Exemptions: You may only apply for residence homestead exemptions on one property in a tax year. APPLICATION FOR HOMESTEAD TAX EXEMPTION and FLOATING HOMESTEAD EXEMPTION. NAME. ADDRESS. PARCEL I.D. NO. To the Tax Commissioner of Forsyth County, Georgia. Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. This is typically on April 1.