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What is Homestead Exemption? The original homestead exemption was created many years ago. Its intention was to exempt as many homes as possible from the payment of property taxes. In 1980, voters, statewide, approved an increase in the homestead exemption to its current level of $75,000. The homestead exemption allows that the first $7500 of assessed value on an owner occupied home will be exempt from property taxation. The homestead exemption is permanent as long as the homeowner continues to own and permanently reside at that location. If the owner moves to another location or sells the property, the homestead exemption on that property will be canceled. Only one homestead exemption in the State of Louisiana can be granted on a home that is owned and permanently occupied as a domicile. A homestead exemption cannot be applied to a property that is not permanently occupied by its owner. How do I file for Homestead Exemption? You must appear in person at either location of the Jefferson...