1. When did you acquire this property? To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located.Complete form BOE-266, Claim for Homeowners'. Property Tax Exemption. 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. Complete a homestead declaration form. You don't have to file a homestead declaration to claim the homestead exemption in bankruptcy. In California, the bankruptcy homestead exemption is automatic. New property owners will automatically receive an exemption application in the mail. Under California law, a homeowner is entitled to the protection of a certain amount of equity in the home that is his or her principal residence (home).