Looking for info on Homestead Exemption tax relief? Homestead Exemption In order to qualify for the exemption, you must be a veteran of the armed forces.Obtaining a veterans exemption is not automatic – If you're an eligible veteran, you must submit the initial exemption application form to your assessor. The Veterans Exemption helps veterans and their family members reduce their property taxes. To be eligible, the property must be your primary residence. Additional exemptions based on income and disability.