Homestead Exemption is one way to reduce the amount of property tax you pay on your residential property. A homestead exemption reduces the amount of property taxes homeowners owe on their legal residence.Federal bankruptcy law sets a schedule of property that is exempt from bankruptcy. It is a complete listing of property owners, their street addresses, legal addresses, property locations, exemptions, assessments and taxes due. APPLICATION FOR HOMESTEAD TAX EXEMPTION and FLOATING HOMESTEAD EXEMPTION. NAME. ADDRESS. PARCEL I.D. NO. To the Tax Commissioner of Forsyth County, Georgia. The Homestead Exemption allows for a partial exemption on a portion of the assessed value of your primary home which lowers the amount of property tax you owe. Securing your today and tomorrow. Prepare - laptop Prepare. Forsyth County, Georgia (N.