Two forms of identification or proof of address. Use the property tax relief calculator on the Property Search website to see if your property has the Homestead Exemption.The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." A Homestead Exemption means that if you own your home, you can qualify for a reduction of your home's tax assessment, and therefore reduce your tax bill. SS Act 1 only applies to residential property owners. Pennsylvanians in 66 counties will receive property tax relief through homestead and farmstead exclusions. Apply for the Philadelphia Homestead Real Estate Tax Exemption to save money on your real estate taxes. Either type of property tax reduction will be through a "homestead or farmstead exclusion. This cannot be applied at the same time as a Homestead Exemption. You can't have LOOP and the Homestead Exemption at the same time, so run the numbers or talk to your real estate broker before applying.