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Homestead Exemption. Each owner-occupied primary residence (house or manufactured home) and up to one-acre of land is eligible for a Homestead Exemption.It appears you best bet would only be owner financed sale. If you are interested in Buying land in Idaho, here is a comprehensive list of questions to ask and information to seek out as part of your due diligence. Property taxes are due each year on or before December 20th. If you choose to pay in two installments, the first half is due on or before December 20th. The application is needed to identify the acres you wish to have assessed as timber-producing land (there is no cost to file). What a licensee needs to know if they are a REALTOR(r) and have questions about using the RE-21 Purchase And Sale Agreement in Idaho. Homestead Exemption. Each owner-occupied primary residence (house or manufactured home) and up to one-acre of land is eligible for a Homestead Exemption.