The homestead exemption allows lowincome senior citizens and permanently and totally disabled Ohioans, to reduce their property tax bills. The homestead can't exceed one acre in a city or 160 acres in a rural area.A homestead exemption can benefit homeowners if one spouse in a twoincome household dies. You must file a document called a "Declaration of Homestead". This can provide asset protection from creditors for at least some of house's value. Protection under homestead laws is typically limited to "natural persons" who reside in the applicable jurisdiction. One city acre or up to 160 acres elsewhere. Texas, Unlimited, Ten acres anywhere; home equity loans legalized in 2003 and subject to foreclosure. Complete List of Documents.
