Though all property is assessed, not all of it is taxable. See a list of common property tax exemptions in New York State.Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. Pursuant to MCL 211.7u, eligible low-income homeowners may apply for an exemption from property taxes. Typically, this value will increase annually. The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." You must fill-in the property identification number in order to submit this application. Typically, this value will increase annually. Notice: You must click the "Submit" button after completing the Homestead Form!