There are no income and homestead value limits for categories 4V, 4S, 5, and 7. The. The homestead can't exceed one acre in a city or 160 acres in a rural area.How to Apply for Homestead Exemptions Homestead applications must be filed with the county assessor after February 1, and on or before June 30 of each year. When applying for your county's homestead exemption, you must show proof of your income. If you have not yet filed your 2024 Nebraska Homestead Exemption Application, you may still be eligible to apply for a property tax exemption. You must also report on your Utah income tax return that you no longer qualify for the homeowner's exemption on your primary residence. The exemption is available to homeowners who meet specific eligibility requirements, such as age, disability status, or income level. However, even taxpayers who use their home as their primary residence may qualify for the Homestead Exemption.