The property owner may be entitled to a homestead exemption if he or she owns a single-family residence and occupies it as their primary residence. Online: Go to Homestead Tax Credit Eligibility Application page, and complete the online form.Filing an online application will be faster than mailing one in. Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. If the property has more than one owner, signatures of additional owners are not required. 2. A homestead exemption is defined as a single-family owner-occupied dwelling and the land thereto, not exceeding 160 acres. A homestead exemption is a single-family owner-occupied dwelling and the land thereto, that does not exceed 160 acres. 2)The owner, or at least one of the owners, must reside in the dwelling as their principal place of residence, and must have done so for at least 5 years. You must close and take ownership of the property before October 1.