This program may protect your home equity from judgments, liens, and creditors. The claim form, BOE-266, Claim for Homeowners' Property Tax Exemption, is available from the county assessor.Do not file any exemption applications with the NYS Department of Taxation and Finance or with the Office of Real Property Tax Services. In 1970, Ohio voters approved a constitutional amendment permitting a homestead exemption that reduced property tax for lower income senior citizens. The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia. The 124th Maine Legislature in 2010 revised the Homestead Exemption law. Forms ; Property Tax Forms. Do you qualify for a Homestead Exemption tax break? Homestead: This exemption can help homeowners reduce state property taxes and protect surviving spouses from creditors. The exemption is now based on the countywide median sale price for a single-family home in the prior calendar year.