The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." To receive a homestead or farmstead exclusion, a Pennsylvania resident must submit an application to the county assessor prior to March 1.Who qualifies for Homestead? Property taxes may be lowered through homestead and farmstead exclusions. This Video Shows you How to Complete an Application for Homestead Exemption. Applications. Homestead applications may be filed from December 15 through March 1 (or the next official business day should March 1 fall on a weekend). This Video Shows you How to Complete an Application for Homestead Exemption. Fill in your name and the name of other owners such as your spouse or a co-owner of the property. The farmstead exclusion would be applied to buildings and structures that are not already exempt from real property taxation under other laws. By signing this application, the applicant is affirming or swearing that all information contained in the application is true and correct.