If you qualify for a homestead exemption, you can protect yourself from bankruptcy, property taxes and creditors. You can schedule an appointment online for Property Tax Exemption application assistance over the phone.New York City and New York State offer homeowners property tax relief in the form of exemptions, abatements, and credits. In bankruptcy, a homestead exemption protects equity in your home. Here, you'll find specific information about the homestead exemption in New York. The homestead exemption application is available at most municipalities or you may download the application on the Homestead Exemptions page. Forms and Publications. The application packets linked below include all relevant forms and instructions needed to apply for each type of exemption. Q: How can I apply for the STAR exemption? The March 1 application deadline for property tax relief is set in the Homeowner Tax Relief Act (Section 341 of Act 72 of 2004).