Complete the Homestead Declaration form. The form must be printed legibly in black ink.A homestead exemption can benefit homeowners if one spouse in a twoincome household dies. Depending on where you live, you can apply online through the state treasury office or the designated tax assessor in your appraisal district. The homestead can't exceed one acre in a city or 160 acres in a rural area. 1. Complete the Homestead Declaration Form. A homestead exemption basically protects you from creditors as far as protects your equity in the house. Nevada Homestead Law: What's Protected? Nevada Homestead Law: What's Protected? This Video Shows you How to Complete an Application for Homestead Exemption.