PROPERTY TAX RELIEF AVAILABLE TO ALL ILLINOIS PROPERTY TAX PAYERS FOR THEIR PRIMARY RESIDENCE:
- General Homestead Exemption–Reduction in equalized assessed value up to $6,000 which reduces your tax bill in the range of $380 to $646 depending on the tax rate where your property is located. Available for all owner-occupied residences. No age requirement.
- Home Improvement Exemption — Reduction of the assessed value equal to the amount of increase caused by new improvement to existing structure. Up to $25,000. No age requirement.
- Senior Citizens Homestead Exemption– A $5,000 reduction in the assessed value of a property. Must be 65 years of age or older during the taxable year. Must be the owner or record or person with equitable interest in the property. Must apply/renew every year. Reduction in tax bill ranges from $317 to $539.
- Senior Citizens Assessment Freeze Homestead Exemption– Allows qualified senior citizens to freeze the equalized assessed value of their home at the base year value and prevent any increase due to inflation. The base year is the year prior to the year you first qualify and apply for the exemption. The assessment freeze does not freeze the amount of your property tax bill, which will still increase if the tax rate increases. To qualify you must be 65 years or older during the taxable year and have a total household income of no more than $55,000. You must own the property or have equitable interest in the property, and reapply every year.
- Disabled Persons’ Homestead Exemption–Lowers the equalized assessed value of your property by $2,000. You must be receiving social security disability payments or have a Class 2 I.D. card.
- Disabled Veterans’ Standard Homestead Exemption–Lowers the equalized assessed value of your property by $2,500 if your service-connected disability is between 30% and 49% and $5,000 if the disability is between 50% and 69%. Those 70% to 100% disabled are exempt from taxation. Application process includes your DD214 and statement of disability from the VA.
- Returning Veterans’ Homestead Exemption– Lowers the equalized assessed value of your property by $5,000 in the year you return from active duty in armed conflict. It is only a two year exemption.
- Traditional Disabled Veteran Exemption — Exempts up to $70,000 of assessed value. The Federal Government must authorize payment for purchase or construction of specially adapted housing. Certification is made to Illinois Department of revenue by the U.S. Department of Veteran’s Affairs. The state then certifies this to the county.
- Senior Citizens Real Estate Tax Deferral–Allows qualified Seniors to defer all or part of property tax on their owner-occupied residence. It’s a dorm of loan with a six percent interest rate which is repaid after the tax payers death or at the time the property is sold. Must be at least 65 years of age by June 1 and a household income of not more than $50,000, and occupied the property for at least three years.
Will I be notified if my assessment changes?
Yes. Any time an assessment changes, the tax code requires taxpayers be mailed a notice AND the change be published in the newspaper. In a reassessment year (every 4th year) ALL parcels receive a notice and are published even if there was no change.
Is it the owner’s responsibility to notify the township assessor after an improvement is added to the property?
Yes, per (35 IL CS-200/9-180) the owner of the improved property shall notify the assessor within 30 days of completion of the improvements and request that the property be reassessed. The form is available on the county website.
It is the owner’s responsibility to make sure all information on the property is correct: value, name, addresses, exemptions that are allowed. Failure to receive your real estate tax bill does not negate your responsibility to pay. Failure to notify any errors in a timely manner may result in overpayment of taxes which, by law, cannot be refunded after the annual tax sale.
Article by: Maureen Berkowitz
Supervisor of Assessments/Chief County Assessment Officer JACKSON COUNTY