- Illinois Property Tax Exemptions
- Senior Citizens Homestead Exemption. Form PTAX-324
- Low Income Senior Citizens Assessment Freeze Homestead Exemption. Form PTAX-340
- Returning Veterans Homestead Exemption. Form PTAX-341
- Homestead Exemption for Persons with Disabilities. Form PTAX-343
- The Disabled Veterans Standard Homestead Exemption. Form PTAX-342
- Homestead Improvement Exemption. Form PTAX-323
Illinois Property Tax Exemptions
A General Homestead Exemption is given to owner-occupied residential property. This exemption equals the increase in the equalized assessed value over the equalized assessed value of a property in 1977 up to a maximum of $6,000. No application is required.
Senior Citizens Homestead Exemption. Form PTAX-324
A Senior Citizens Homestead Exemption is a $5,000 reduction in the equalized assessed value. This reduction is for persons 65 and older who own and occupy a home. Senior citizens must apply for this exemption at the County Assessments Office. Annual renewal is required, with forms being mailed by the Chief County Assessment Office.
Low Income Senior Citizens Assessment Freeze Homestead Exemption. Form PTAX-340
The Senior Citizens Assessment Freeze Homestead Exemption is for persons 65 and older who have a total household income level of $65,000 or less. This exemption requires application and renewal each year. Renewal forms are mailed by the Chief County Assessment Office.
Returning Veterans Homestead Exemption. Form PTAX-341
The Returning Veterans’ Homestead Exemption provides a one-time $5,000 reduction in a property’s 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.
Homestead Exemption for Persons with Disabilities. Form PTAX-343
The Homestead Exemption for Persons with Disabilities provides a $2,000 reduction in a property’s EAV to a qualifying property owned by a person with disabilities. Such a person must file an annual application by the county’s due date to continue to receive this exemption.
The Disabled Veterans Standard Homestead Exemption. Form PTAX-342
The Disabled Veterans’ Standard Homestead Exemption 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%, total exemption is available to a veteran with service-connected disability of 70% or more.
The current Disabled Veterans’ Homestead Exemption that provides up to a $70,000 reduction in assessed value for federally-approved specially adapted housing will continue to be available through the local Veterans’ Affairs Office.
A disabled person’s or disabled veteran’s property can receive only one of the following exemptions each year: Disabled Veterans’ Exemption (35 ILCS 200/15-165), Disabled Persons’ Homestead Exemption or the Disabled Veterans’ Standard Homestead Exemption.
Homestead Improvement Exemption. Form PTAX-323
Homeowners who have made improvements to properties used exclusively for residential purposes may also qualify for the Home Improvement Exemption. The maximum amount for this exemption is $25,000 of assessed value. This exemption is for 4 years.
Beginning in 2012 Illinois homeowners who rebuild following destruction of residential structures in a natural disaster may be eligible for a Natural Disaster Homestead Exemption. Information on this exemption may be obtained at the Chief County Assessments Office.
If you have any questions concerning any of the homestead exemptions, or to obtain applications, contact your local chief county assessment officer by phoning 1-618-544-8221, visiting the office at 100 S Douglas St, Robinson, or writing to P O Box 742, Robinson IL 62454.