Two forms of identification or proof of address. The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia.Homeowners should contact their county assessment office (position 48) for a copy of their county's homestead and farmstead application form. The Department of Revenue will also use this application to enroll you in the Homestead Exemption program if you do not already have it. The Homestead Exemption applies only to the home of your primary residence, meaning you cannot receive it for any other property you own. Download the application form on the City's website and fill it out to apply.