The Commonwealth of Pennsylvania's state government enacted a law in 2006 known as the Taxpayer Relief Act. The purpose of the Act is to lower the amount of taxes paid by Pennsylvania residents. A specific measure in the Act was the creation of the Homestead Exclusion, which provides a means to lower the property tax bill of eligible property owners. A PA homestead exemption can help you significantly reduce your tax burden at the close of the year.
To be eligible for a homestead exclusion, a natural person must be the owner of the property and that property must be both your domicile and primary legal residence. This means the property must be your actual home and the place you return to regularly.
Eligible property owners have to file an official application with their local County Assessor's Office. The application must be filed by March 1 to receive a homestead exclusion for that year.
A farmstead is defined as all buildings and structures on a farm not less than ten contiguous acres in area