You may apply in the year you turn 65. Property Tax Deferral for Senior Citizens.You may only have one homestead per married couple in the state of Minnesota. Homestead status can save you money on your property taxes. Individual taxpayer identification numbers now qualify property owners for homestead exclusion. Complete and submit an application with a copy of your deed (including the legal description). Homeowners should contact their county assessment office (position 48) for a copy of their county's homestead and farmstead application form.