Someone's residency in a particular place, especially in a country, is the fact that they live there or that they are officially allowed to live there. The fact or status of living or staying in a place while working, going to school, carrying out official duties, etc.In-County Residency. A residency affidavit signifies an individual's legal document affirming their current residence. Often, it comprises vital details including the person's name. The exemptions apply only to property that you own and occupy as your principal place of residence. See filing deadline info on page 2. A homestead exemption removes part of the value from the assessed value of your property and lowers your property taxes. (2) "Dwelling" means a residential structure or manufactured home that contains one to four family housing units. What's the meaning of "reside" in a property insurance context?