The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." This program allows homeowners who are seniors, are blind, or have a disability to defer current-year property taxes on their principal residence.To qualify for the homeowners' exemption, the home must have been the principal residence of the owner as of January 1 of that tax year. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. Download PDF BOE-266 REV. To receive a homestead or farmstead exclusion, a Pennsylvania resident must submit an application to the county assessor prior to March 1. As of January 1, 2021, the California homestead exemption is a minimum of 300,000 dollars, but can be as high as 600,000 dollars. To get started, click the Four-Pay Plan button below, follow the instructions, and complete the application. Fill out a form (NJ-165 for NJ residents or REV-419 for PA residents). Submit it to your employer to stop withholding taxes for the state you work in.