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 homestead protects some of the equity in your home.If you live in the home you own, you already have an automatic homestead exemption. The Senior Grant Program assists with mobility and habitability repairs to help low-income seniors (62 years or older) remain in their homes and age in place. The Ohio Homestead Exemption allows low-income older adults and permanently and totally disabled Ohioans to reduce their property tax bills. This can provide asset protection from creditors for at least some of house's value. Habitat manages the homeowner selection and application process at the local level, through our locations in communities across the US. I agree with my colleagues. I would add a couple of points. Protect your home and assets with affordable homeowners insurance from Progressive.