▁residence ▁of ▁the ▁owner . ▁Farm ers ▁can ▁qual ify ▁for ▁both ▁the ▁hom est ead ▁exem ption ▁and ▁the ▁farm st ead ▁exem ption . ▁ ▁In ▁Pennsylvania , ▁the ▁hom est ead ▁ex clusion ▁reduces ▁the ▁ass essed ▁values ▁of ▁hom est ead ▁properties , ▁reducing ▁the ▁property ▁tax ▁on ▁these ▁homes . ▁The ▁hom est ead ▁ex clusion ▁allows ▁home own ers ▁real ▁property ▁tax ▁relief ▁of ▁up ▁to ▁one ▁half ▁of ▁the ▁median ▁ass essed ▁value ▁of ▁hom est ead s ▁in ▁the ▁tax ing ▁juris diction ▁( count y , ▁school ▁district , ▁city , ▁bor ough , ▁or ▁town ship ). ▁ ▁Additionally , ▁the ▁Pennsylvania ▁Property ▁Tax / R ent ▁Reb ate ▁program ▁is ▁provided ▁for ▁low ▁income ▁Pen ns yl v ani ans ▁aged ▁ 6 5 ▁and ▁older ; ▁wid ows ▁and ▁wid ow ers ▁aged ▁ 5 0 ▁and ▁older ; ▁and ▁people ▁with ▁dis abilities ▁age ▁ 1 8 ▁and ▁older . ▁The ▁income ▁limit ▁is ▁$ 3 5 , 0 0 0 ▁for ▁home own ers . ▁The ▁maximum ▁reb ate ▁for ▁both ▁home own ers ▁and ▁rent ers ▁is ▁$ 6 5 0 . ▁ ▁App lic ants ▁can ▁exclude ▁one - half ▁( 1 / 2 ) ▁of ▁their ▁Social ▁Security ▁income , ▁consequ ently ▁people ▁who ▁have ▁an ▁income ▁of ▁substantial ly ▁more ▁than ▁$ 3 5 , 0 0 0 ▁may ▁still ▁qual ify ▁for ▁a ▁reb ate . ▁Ind ividual s ▁must ▁apply ▁ann ually ▁for