The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia. Question 5: If your mailing address differs from the address of the property for which you are seeking a Homestead Exemption, fill in your mailing address.The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." This program provides a one-time financial benefit to income-eligible New Jersey residents who file income taxes using an ITIN. GENERAL INFORMATION: Property owners applying for a residence homestead exemption file this form and supporting documentation with the appraisal district in. To schedule an appointment, call 844-545-5640. Early filers should apply by.