If qualified, how does one benefit?

You may receive a reduction in your property value for tax purposes. Any dollar amount of the exemption that is unused may be applied against the value of personal property or vehicle subject to special property taxes.

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1. Who is entitled to an exemption?
2. If qualified, how does one benefit?
3. Is the exemption for my house only?
4. Can I receive the exemption for my vehicle only?
5. What are the qualifications?
6. When and where do I apply?
7. What documentation is required?