The homestead exemption allows lowincome senior citizens and permanently and totally disabled Ohioans, to reduce their property tax bills. Disabled applicants must complete form DTE 105E,.This can provide asset protection from creditors for at least some of house's value. A homestead exemption application form ("DTE 105A") is available from the Ohio Department of Taxation. Protection under homestead laws is typically limited to "natural persons" who reside in the applicable jurisdiction. Homestead exemptions can protect a home up to a certain value of the homeowner's equity in it. This exemption can be applied to all residential property up to five dwelling units of which at least one is owner occupied. Tax Estimator calculates an estimated annual property tax amounts based on current tax rates and a property valuation you specify.