In order to be timely, payment of taxes must be postmarked on or before January 31st. GENERAL INFORMATION: Property owners applying for a residence homestead exemption file this form and supporting documentation with the appraisal district in.This video will cover how to fill out the homestead exemption form. Property tax exemptions. The general deadline for filing an exemption application is before May 1. Additional documents required – Form 50-114. You must apply with your county appraisal district to get a homestead exemption. Applying is free and only needs to be filed once. A homestead exemption removes a portion of your home's value before the property tax is determined, which lowers the overall amount you'll need to pay. Bought a primary residence within the past year in Texas?