File this form and all supporting documentation with the appraisal district office in each county in which the property is located generally between Jan. To qualify for the Illinois homestead exemption, you must live in the state for at least 730 days.Find out which exemptions automatically renew. Illinois veterans and persons with disabilities may be eligible for tax relief through the property tax homestead exemptions and mobile home exemptions. Use WCAD's online exemption form for quicker filing and expedited processing time. Again, this is applicable only to your primary residence. A property owner must apply for an exemption in most circumstances. Some lenders, such as Homestead Financial Mortgage, may require you to fill out form PTAX342 before closing. Taxpayers are only entitled to one homestead exemption on their primary residence for any given tax year.