What's the difference between a homestead and a homeowners tax exemption in CA?Do/should I apply for both?

I'm not an elderly person or in danger of losing my home, but I'm wondering if I should file for a homestead exemption. These exemptions are confusing. There's also the homeowner's exemption which I'll be filing...apparantly saving me $70 (or 1% of $7000) per year. But originally I went into it thinking I needed to file a homestead exemption. I ended up filing a homeowner's exemption instead. What about the homestead exemption though? It's hard to find this info online!