A homeowner's exemption is a benefit to homeowners who occupy the property as their principal residence as of January 1st of any given year. Please Download PDF BOE-266 REV.To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. Complete a homestead declaration form. Sign your declaration in front of a notary. Listed below are some common questions frequently asked about programs to lower your tax bills. What is a Homeowner Exemption? Buy a declared homestead form from an office-supply store, or download a form from the Registrar-Recorder's website. Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. Any equity in your home (also called the homestead exemption).