Exemptions Available to Property Owners

OWNER OCCUPIED EXEMPTION (ALSO KNOWN AS THE GENERAL HOMESTEAD EXEMPTION)

This exemption lowers the equalized assessed value of your property up to $6,000.

To qualify for this exemption, you must:

• Own and occupy the property as your principal residence on January 1 of the tax year.

HOME IMPROVEMENT EXEMPTION

This exemption defers for four years any increase in the assessment of your property due to an addition or other improvement to your home for which the Assessor would add value.

• A maximum of $25,000 of assessed value may be deferred under this program.

The Township Assessor’s Office initiates this exemption.

• Limited to single-family Owner Occupied residential properties.

SENIOR HOMESTEAD EXEMPTION

This exemption lowers the equalized assessed value of your property up to $5,000.

To receive this exemption, you must:

• Own and occupy the property as your principal residence.
• Have reached age 65 or older during the tax year.
• Apply for the exemption at the Township Assessor’s office. You will need to bring proof of age with you when you apply.

Senior Citizen Assessment Freeze Exemption

**Must be renewed annually**

This exemption freezes the taxable assessment on your property. The exemption may be claimed in addition to the Senior Homestead Exemption and Owner Occupied Exemption.

To receive this exemption, you must:

• Have owned and occupied the property as your principal residence for two January 1st.
• Be age 65 or older.
• Have a maximum gross household income of $65,000. This household includes that of all persons using the property as their principal dwelling place on January 1 of the tax year.
• Complete and return application to:

Other Property Tax Relief

CIRCUIT BREAKER GRANTS

This program provides low-income senior citizens and disabled citizens with yearly grants to help pay property taxes. The amount of the grant is determined by a formula that takes into account your property tax and your total household income.

For more information contact:

Senior Citizen Real Estate Tax Deferral Program

This program is designed to allow senior citizens to defer payment of part or all of the property taxes on their homes. This program functions as a loan, with an annual interest rate of 6%.

For more information contact:

*** You may only receive one of the following exemptions***

DISABLED VETERAN’S EXEMPTION

Under this program, up to $70,000 of the equalized assessed value of a home that is owned by a qualifying veteran, the veteran’s spouse or unmarried surviving spouse is exempt from property taxes.

To receive this exemption, you must:

• Own and occupy the property as of January 1 of the assessment year.
• Be an Illinois resident who has served as a member of the U.S. Armed Forces on active duty or state active duty, IL National Guard, or U.S. Reserve Forces and not have received a dishonorable discharge.
• Have at least a 50% service connected disability certified by the U.S. Department of Veteran Affairs.
• Have a total EAV of less then $250,000 for the primary residence.

RETURNING VETERAN’S EXEMPTION

Under this program, you will receive a $5,000 reduction in assessed value in the year in which returning from active duty.

To receive this exemption, you must:

• Own and occupy the property as of January 1 of the year returning.
• Be an Illinois resident who has served as a member of the U.S. Armed Forces, IL National Guard, or U.S. Reserved Forces.
• Must be returning from duty in an armed conflict. (A Veteran who dies is eligible to receive exemption.)
• If called back to active duty, the exemption can be received in another year.

DISABLED PERSONS’ HOMESTEAD EXEMPTION

Under this program, you will receive a $5,000 reduction in assessed value.

To receive this exemption, you must:

• Own and occupy the property as of January 1 of the assessment year.
• Must be disabled during the assessment year.

For more information on these exemptions contact the Supervisor of Assessments Office (309-558-3660). All first time applicants will need to fill out a form. In subsequent years, renewal forms will be mailed out.