Homeowners should contact their county assessment office (position 48) for a copy of their county's homestead and farmstead application form. To receive a homestead or farmstead exclusion, a Pennsylvania resident must submit an application to the county assessor prior to March 1.The homestead can't exceed one acre in a city or 160 acres in a rural area. So, a homestead exemption is a legal provision designed to protect the value in a principal dwelling place. How to apply for the Homestead Exemption to reduce your Real Estate Tax bill if you own your home in Philadelphia. New Jersey and Pennsylvania have no homestead exemptions. Getting a tax exemption is not automatic, and initial applications are often due in the spring. See all exemption requirements →.