Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.In bankruptcy, a homestead exemption protects equity in your home. Here, you'll find specific information about the homestead exemption in New York. To be eligible for the upcoming tax roll. You can complete the application and upload your documents online from September 15 to March 15. You'll need to log in or create an account first. Federal law requires that you live in the property for at least 40 months prior to the bankruptcy. Select all exemption(s) for which you are applying: Basic Homestead Exemption. Please reserve your time and date at least a week in advance. 2.