Exemptions Reduce Taxes

Exemptions Reduce Taxes! Do you have yours?

To qualify for any property exemptions it must be the taxpayer’s principal residence.

Find Exemptions on Tax Bill

General Homestead Exemption

  • The property must be your principal residence on or before January 1st
  • This exemption lowers the equalized assessed by $6,000.  Increasing to $8,000 in tax year 2023
  • No Annual Renewal

Homestead Improvement Exemption

  • This exemption defers, for four years, any increase in the assessment of your property due to an addition or other improvement for which the Township Assessor would add value.
  • A maximum of $25,000 of assessed value may be deferred under this program.

Senior Homestead Exemption

  • Have reached age 65 during the tax year.
  • This exemption lowers the equalized assessed by $5,000. Increasing to $8,000 in tax year 2023
  • No income requirement
  • No Annual Renewal

Senior Citizens Assessment Freeze Homestead Exemption

  • This exemption freezes the taxable assessed value on your property.  It does not freeze the taxes as tax rate fluctuations can impact the tax amount.
  • Income requirement; your total household income must be $65,000 or less.
  • This exemption must be renewed annually.

Disabled Persons’ Homestead Exemption

  • This exemption lowers the equalized assessed value of your property by $2,000
  • Be disabled under the Federal Social Security Act and supply either:
    • A copy of your Illinois Disabled Person Identification Card or.
    • Proof of Social Security Administration Social Security Benefits.
  • This exemption must be renewed annually.

Standard Homestead Exemption for Veterans with Disabilities (SHEVD)

This exemption provides a reduction in equalized assessed value (outlined below) of a primary residence occupied by a veteran with a disability, or the veteran’s surviving spouse. This exemption can be claimed in addition to the General Homestead Exemption and the Senior Homestead Exemption.

  • A disabled veteran with a 70% or higher service-connected disability will be tax exempt.
  • A disabled veteran with at least 50%, but less than 70% service-connected disability will receive a $5,000 reduction in the property’s EAV.
  • A disabled veteran with at least 30%, but less than 50% service-connected disability will receive a $2,500 reduction in property’s EAV.

Disabled Veterans Exemption (Adaptive Housing)

  • Up to $100,000 of the equalized assessed value can be exempted.
  • The Federal Government has authorized payment for the purchase or construction of housing which has special adaptations for the disability.
  • You apply for this exemption through the Illinois Department of Veterans’ Affairs.

Returning Veterans’ Homestead Exemption

  • Lowers the equalized assessed value of your property by $5,000 in the year you return from active duty in an armed conflict.
  • It is a one-year exemption

Smartfile for On-Line Applications for all Exemptions