The homestead exemption allows lowincome senior citizens and permanently and totally disabled Ohioans, to reduce their property tax bills. The homestead tax exemption applies to property taxes.A General Homestead Exemption is given to owneroccupied residential property. This exemption equals the increase in the equalized assessed value. The homestead exemption provides a reduction in property taxes to qualified senior or disabled citizens, or a surviving spouse. Charitable organizations should complete Form PTAX-300, Application for Non-homestead Property Tax Exemption. You must include copies of. The homestead exemp- tion provides a reduction in property taxes to qualified senior or disabled citizens, or a surviving spouse, on the dwelling that is that. A property tax exemption is like a discount applied to your EAV. If you qualify for an exemption, it allows you to lower your EAV.
