The homestead exemp- tion provides a reduction in property taxes to qualified senior or disabled citizens, or a surviving spouse, on the dwelling that is that. The homestead exemption allows lowincome senior citizens and permanently and totally disabled Ohioans, to reduce their property tax bills.Property tax exemptions. Standard Homestead Exemption allows low income senior citizens and permanently, totally disabled Ohioans to reduce their property tax bills. The general homestead exemption is available, plus exemptions for people who are 65 years or older. How your property taxes compare. See how your property tax rates compare to the top 50 metropolitan areas in the United States. Property taxes in Florida come in a bit below national averages. Through my 34 years at Costco, I feel blessed to have grown up with a company that allowed me to build my career, travel, and work in multiple buildings.