The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia. You must file with the county or city where your home is located.Each county has different applications and required documents. A homestead exemption is available to property owners who own and occupy their residence as of January 1st of each taxable year. Many states will require that you live in your home as a primary residence to qualify for a property tax exemption. How much you pay in property taxes each year can impact your home expenses. Annex 3 Fourth Floor 121 S Jonesboro, GA 30236. One place to search and find your next commercial real estate rental.