Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.It is a local option to establish two separate property tax rates: a lower tax rate for residential property owners. The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." You must live on the property of the Year for which you file, and it must be your principal place of residence. 1. What is Homestead Exemption and How Do I Qualify? 1. What is Homestead Exemption and How Do I Qualify? Determine your home's current market value. Once you have been approved for the Homestead Exemption, you do not need to fill out the application for future years. The exemption information is then posted to the local property tax roll.

Homestead Act Information With One Another In Wayne

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