Nebraska Homestead Exemption. Nebraska Homestead Exemption Application, Form 458.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. The homestead can't exceed one acre in a city or 160 acres in a rural area. Nebraska Homestead Exemption applications must be filed with local county assessors between Feb. Homestead exemption applications must be filed annually between February 2 and June 30. Application forms are typically available beginning February 2. A completed Homestead Exemption Application showing the homestead address.