Homestead Exemption Forms For 2024. The property where you apply for homestead exemption must be your primary (permanent) residence on january 1 of the year for which you are making an application. A homestead exemption is an exemption that removes all or a portion of value from your residence homestead as authorized by the state or adopted by a local taxing unit.

A homestead exemption also limits the increase of your appraised value to 10% annually. If you own and occupy your home, you may be eligible for the general residential homestead exemption.