Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.Determine your home's current market value. You can get information about your property tax benefits, including: Application status, Current benefit amounts, Proposed benefit for the upcoming tax year. Though all property is assessed, not all of it is taxable. See a list of common property tax exemptions in New York State. In this video we're gonna show you how to fill out your homestead exemption. Two copies of this form must be filed with the County Assessor of the county where the property is located. The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia. To fill out the one-time Homestead Tax Credit Application (principal residence assessment cap).