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. PTAX-342 Application for Standard Homestead Exemption for Veterans with Disabilities (SHEVD).Step 2: Complete the disabled veterans' eligibility information. A property tax exemption is like a discount applied to your EAV. If you qualify for an exemption, it allows you to lower your EAV. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. The General Homestead Exemption is granted automatically in most cases.