General Homestead Exemption (35 ILCS 200/15-175): is given to owner-occupied residential property, which is the owner’s principal residence. The exemption has a maximum reduction of $6,000 in assessed valuation. Make sure this exemption appears on your tax bill if this is your principal residence.
Senior Citizen Homestead Exemption (35 ILCS 200/15-170): is issued to anyone becoming 65 years old by December 31st of the taxing year and is the owner of record, responsible for the payment of taxes and occupies the property as the owner’s principal residence. This results in a $5,000 reduction in assessed valuation. The Senior Citizen must come into the office initially to apply for this exemption and show proof of age. A renewal is sent out each year in January for this exemption.
Senior Citizen Assessment Freeze Homestead Exemption (35 ILCS 200/15-172): is for anyone 65 years old by December 31st of the taxing year or older and is the owner of record, responsible for the payment of taxes and occupies the property as the owner’s principal residence. The total household income must be less than $65,000 in order to qualify. This exemption must be filed initially in the office by July 1st and must be renewed each year. A renewal form is sent out at the beginning of January. Our office can assist you in completing this form if needed. If assistance is needed, we ask that you bring all income information to our office.
Homestead Improvement Exemption (35 ILCS 200/15-180): is an exemption for owner-occupied residential property which has been improved with a new structure, such as: deck, garage, and porch or room addition. This exemption must be applied for in our office. This will exempt the improvement for four (4) years from the date of completion. This exemption is limited to $75,000 per year in fair cash value or $25,000 in assessed value.
Disabled Veterans (35 ILCS 200/15-165): is for a Specially Adapted House owned and used by a disabled veteran. Property may be exempt up to an assessed value of $100,000. This exemption must be certified by the Illinois Department of Veteran’s Affairs. Current year evidence of service-connected disability must be presented each year for verification. For additional information, contact:
ILLINOIS DEPARTMENT OF VETERAN’S AFFAIRS
ATTN: MANAGER/STATE GRANTS
P. O. BOX 19432
SPRINGFIELD, IL 62794-9432
SPRINGFIELD OFFICE (217) 782-6641
SALEM OFFICE (618) 548-9680
Returning Veterans Homestead Exemption (35 ILCS 200/15-167): provides a $5,000 reduction on a property equalized assessed value (EAV) to qualifying veterans who return from active duty in an armed conflict involving the armed forces of the United States. To receive this exemption, the veteran must file an application upon their return home. The exemption is a two-year exemption – the year returning and the following year.
Disabled Veterans Standard Homestead Exemption(35 ILCS 200/15-169): provides a reduction in a property’s EAV to a qualifying property owned by a veteran with a service-connected disability certified by the U. S. Department of Veterans’ Affairs. A $2,500 homestead exemption is available to a veteran with a service-connected disability of at least 30% but less than 50%. A $5,000 homestead exemption is available to a veteran with a service-connected disability of at least 50% but less than 70%. For veterans with a service-connected disability of 70% or more, then the residential property is exempt from taxation. The property’s total EAV must be less than $250,000 after subtracting any portion used for commercial purposes. A disabled veteran must file an annual application by July 1st of each year to continue to receive this exemption
Disabled Persons Homestead Exemption (35 ILCS 200/15-168): provides a $2,000 reduction on a property’s EAV to a qualifying property owned by a person who is 100% disabled. A disabled person must file an annual application by July 1st of each year to continue to receive this exemption. Current year evidence of $100 disability must be presented each year for verification.
Natural Disaster Homestead Exemption (35 ILCS 200/15-173): is an exemption for owner-occupied residential property, which is the owner’s principal residence. Natural disaster is defined as any catastrophic occurrence (fire, flood, earthquake, wind storm or extended period of inclement weather). This exemption must be applied for in our office. The exemption amount is the EAV of the current rebuilt residence minus the base amount which is the EAV of the year prior to the natural disaster. The rebuilt residence cannot be greater than 110% of the original structure and must be rebuilt within 2 years of the date of the disaster.