A homeowner and spouse are entitled to this homestead tax reduction on only one home. The calculation is based on the Dwelling and up to one acre of land.You are eligible for the homestead exemption if the trust agreement contains a provision that says you have complete possession of the property. HOMESTEAD EXEMPTION FILING DATES ARE JANUARY 1st THROUGH April 1st. Effective June 1, 2005 homestead exemptions may be filed for any time during the year. The Homestead Exemption provides qualified homeowners with a measure of property tax relief. Homestead Exemption is available to three groups of people. To apply, complete the application form DTE 105A, Homestead Exemption Application Form. Attainable Housing Exemption. If a property owner has previously signed up for the Exemption, there is no need to re-apply unless they have moved.