Property tax reduction will be through a "homestead or farmstead exclusion." Generally, most owner occupied homes and farms are eligible and only a primary residence is eligible for the property tax relief.
To receive school property tax relief for the tax year beginning July 1, 2017 this form must be filed by March 1, 2017. Bucks County Property Tax Relief Homestead-Farmstead Application
I read on the application that any change to your deed (including re-financing) will remove your Homestead-Farmstead status and a new application must be completed and returned for processing.
If you have any questions or want to verify the status of your application, please consult with the Bucks County assessment office at 215-348-6219.