Tuesday, October 17, 2017

Exemptions

Friday, August 18, 2017



For More Information On Any Of The Exemptions Listed Below Contact Will County at: (815) 722-5515





In accordance with:
"Section 15-175 of the Property Tax Code (35 ILCS 200/15-175)"

GENERAL HOMESTEAD EXEMPTION:

This exemption isadministered and applied by your local Township Assessor.  If you are notreceiving this exemption, please contact your local Township Assessor.  

Homestead property is entitled to an annual homestead exemption."Homestead property" under this Section includes residential propertythat is occupied by its owner or owners as his or their principal dwellingplace, or that is a leasehold interest on which a single family residence by aperson who has an ownership interest therein or as a lessee, and on which theperson is liable for the payment of property taxes.

Where married persons maintain and reside inseparate residences qualifying as homestead property, each residence shallreceive 50% of the total reduction in equalized assessed valuation provided bythis Section.

In counties with fewer than 3,000,000 inhabitants,in the event of a sale of homestead property the homestead exemption shallremain in effect for the remainder of the assessment year of the sale. Theassessor or chief county assessment officer may require the new owner of theproperty to apply for the homestead exemption for the following assessmentyear.

The maximum reduction shall be $5,000 incounties with less than 3,000,000 inhabitants for 2007, $5,500 for 2008, and$6,000 for 2009 and thereafter.


 HOMESTEAD IMPROVEMENT EXEMPTION:

To receive this exemption, please applywith your local Township Assessor. If you qualify for this exemption, yourlocal Assessor files the appropriate paperwork with our office.

The Homestead Improvement Exemption is anexemption allowed for new improvements to existing structures on homesteadproperty or the rebuilding of residential structures following a catastrophicevent.  The exemption is limited to a maximum of $75,000 per year in faircash value and continues for four years from the date the improvement orrebuilding is completed and occupied, not the date you file this application.

You may have more than one homestead improvementexemption on the same property.  However, you cannot receive a homesteadimprovement exemption for any other property in Illinois for the sameassessment year and the total exemption cannot be more than $75,000 per year.

Any repair work performed to prolong or maintainthe condition of an existing structure does not qualifyfor this exemption.

The following is a small list of examples ofwhat does qualify for a Homestead Improvement Exemption:

 

Added Living Area

Dormers

Asphalt Drive

Elevator

Attached Garage

Garage

Bathhouse

Garage Addition

Basement

Garage Conversion to Living Area

Bathroom

Gazebo

Bay Windows

Greenhouse

Brick Patio

Lawn Sprinkler System

Central Air Conditioning

Open Frame Porch (OFP)

Concrete Patio

Parking Pad or Parking Pad Extensions

Covered Patio

Pergola

Convert to Living Space

Porch

Deck

Shed

Detached Frame Garage

Wood Deck

Please remember, this is onlya small list of examples.  Contact yourlocal Township Assessor for more details and any questionsyou may have.


 
Inaccordance with (35 ILCS 200/15-168)

DISABLED PERSONS' HOMESTEAD EXEMPTION: (PTAX-343)

An annual $2,000 reduction inthe EAV of the property. The property must have been occupied on January 1 ofthe assessment year by a disabled person who is liable for the payment ofproperty taxes.

Qualify if disabled or become disabled during the assessment year.

Disabled person cannot participate in any "substantial gainful activity byreason of a medically determinable physical or mental impairment" whichwill result in the person's death or that will last for at least 12 continuousmonths.
 


In accordance with:
"Section 15-170 of the Property Tax Code (35 ILCS200/15-170)" 

SENIOR CITIZENS HOMESTEAD EXEMPTION: (PTAX-324)

An annual homestead exemption is granted forproperty that is occupied as a residence by a person 65 years of age or olderwho is liable for paying real estate taxes on the property and is an owner ofrecord of the property or has a legal or equitable interest therein as evidenceby a written instrument, except for a leasehold interest, other than aleasehold interest of land which a single family residence is located which isoccupied as a residence by a person 65 years or older, who has an ownership interesttherein, legal, equitable or as a lessee, and or which he or she is liable forthe payment of property taxes.

When a homestead exemption has been grantedunder this Section and the person qualifying subsequently becomes a resident ofa facility licensed under the Nursing Home Care Act, the exemption shallcontinue so long as the residence continues to be occupied by the qualifyingperson's spouse if the spouse is 65 years of age or older, or if the residenceremains unoccupied but is still owned by the person qualified for the homesteadexemption.

A person who will be 65 years of age during thecurrent assessment year shall be eligible to apply for the homestead exemptionduring that assessment year. Application shall be made during the applicationperiod in effect for the county of his residence.

For taxable years 2013 and thereafter, themaximum reduction is $5,000 in all counties.

To file for a Senior Citizen Homestead Exemptionyou will need

1. Copy of your recorded deed.
2. Copy of Birth Certificate, Illinois Drivers License, or Illinois ID.
3. Copy of current Tax Bill or P.I.N. (property index number)

You may request anapplication from the Supervisor of Assessments office or your local TownshipAssessors Office. If the application is returned in the mail, the applicationmust be notarized and the information requested above must accompany theapplication.




In accordance with:
"Section 15-172 of the Property Tax Code (35 ILCS 200/15-172)"


SENIOR CITIZENS ASSESSMENT FREEZE HOMESTEAD EXEMPTION:

Contact us at (815) 740-4648 for thisform (also downloadable here) or you maycontact us through our web site contactform.

As used in this Section:
"Applicant"means an individual who has filed an application under this Section.

"Base amount" means the base yearequalized assessed value of the residence plus the first year's equalizedassessed value of any added improvements which increased the assessed value ofthe residence after the base year.

"Base Year" means the taxable yearprior to the taxable year for which the applicant first qualifies and appliesfor the exemption provided that in the prior taxable year the property wasimproved with a permanent structure that was occupied as a residence by theapplicant who was liable for paying real property taxes on the property and whowas either

(i) an owner of record of the property or hadlegal or equitable interest in the property as evidenced by a writteninstrument or

(ii) had a legal or equitable interest as alessee in the parcel of property that was single family residence.

Beginning in taxable year 1994, a seniorcitizens assessment freeze homestead exemption is granted for real propertythat is improved with a permanent structure that is occupied as a residence byan applicant who

(i) is 65 years of age or older during thetaxable year,

(ii) has a household income of $50,000 or lessprior to taxable year 2006 or $55,000 or less in taxable year 2007 andthereafter,

(iii) is liable for paying real property taxeson the property and,

(iv) is an owner of record of the property orhas a legal or equitable interest in the property as evidenced by a writteninstrument.

This homestead exemption shall also apply to aleasehold interest in a parcel of property improved with a permanent structurethat is a single family residence that is occupied as a residence by a personwho

(i) is 65 years of age or older during thetaxable year,

(ii) has a household income of $50,000 or lessprior to taxable year 2006 or $55,000 or less in taxable year 2007 andthereafter,

(iii) has a legal or equitable ownership interestin the property as lessee and,

(iv) is liable for the payment of real propertytaxes on that property.

When married persons maintain separateresidences, the exemption provided for in this Section may be claimed by onlyone of such persons and for only one residence.

In counties having less than 3,000,000inhabitants, beginning with taxable year 1995 and thereafter, to receive theexemption, a person shall submit an application by July 1 of each taxable yearto the Chief County Assessment Officer of the county in which the property islocated. A county may, by ordinance, establish a date for submission of applicationsthat is different than July 1. The applicant shall submit with the applicationan affidavit of the applicant's total household income, age, marital status(and if married the name and address of the applicant's spouse, if known), andprincipal dwelling place of members of the household on January 1 of thetaxable year. The Department shall establish, by rule, a method for verifyingthe accuracy of affidavits filed by applicants under this Section. Theapplications shall be clearly marked as applications for the Senior CitizensAssessment Freeze Homestead Exemption.

For purposes of this Section, a person who willbe 65 years of age during the current taxable year shall be eligible to applyfor the homestead exemption during that taxable year. Application shall be madeduring the application period in effect for the county of his or her residence.

Except as provided in this Section, allinformation received by the chief county assessment officer or the Departmentfrom applications filed under this Section, or from any investigation conductedunder the provisions of this Section, shall be confidential, except forofficial purposes or pursuant to official procedures for collection of anyState or local tax or enforcement of any civil or criminal penalty or sanctionimposed by this Act or by any statute or ordinance imposing a State or localtax. Any person who divulges any such information in any manner, except inaccordance with a proper judicial order, is guilty of a Class A misdemeanor.


In accordance with:
"Section 15-165 of the Property Tax Code (35 ILCS 200/15-165)"

DISABLED VETERANS:

Property can receive only one of the disabilityexemptions per assessment year under Section 15-165 Disabled Veterans'Homestead Exemption, Section 15-168 Disabled Persons' Homestead Exemption, orSection 15-169 Disabled Veterans' Standard Homestead Exemption.

This exemption is established by contacting the Illinois Department ofVeterans' Affairs

Property up to an assessed value of $100,000,owned and used exclusively by a disabled veteran, or the spouse or unmarriedsurviving spouse of the veteran, as a home, is exempt. As used in this Section,a disabled veteran means a person who has served in the Armed Forces of theUnited States and whose disability is of such a nature that the FederalGovernment has authorized payment for purchase or construction of SpeciallyAdapted Housing as set forth in the United States Code, Title 38, Chapter 21,Section 2101.

This exemption must be reestablished on anannual basis by certification from the Illinois Department of Veterans' Affairsto the Department, which shall forward a copy of the certification to localassessing officials. (Source: P.A. 91-401, eff. 1-1-00.) 

The veteran must have a service-connected disability that is approved by theFederal Department of Veterans' Affairs to receive a "Specially Adapted HousingGrant" Application for the Specially Adapted Housing Grant is through theU.S. Dept. of Veterans' Affairs by calling (312) 980-4219 for Northern Regionof Illinois (North of Springfield) or (314) 552-9864 for Southern Region ofIllinois (includes Springfield and south of Springfield).




In accordance with "Section15-169"

DISABLED VETERANS' STANDARD HOMESTEAD EXEMPTION:(PTAX-342)

Property can receive only one of the disabilityexemptions per assessment year under Section 15-165 Disabled Veterans'Homestead Exemption, Section 15-168 Disabled Persons' Homestead Exemption, orSection 15-169 Disabled Veterans' Standard Homestead Exemption.

The SHEVD (35 ILCS 200/15-169) provides anannual reduction in the equalized assessed value (EAV) of a primary residenceoccupied by a veteran with a disability, or the veteran’s surviving spouse, onJanuary 1 of the assessment year. The SHEVD amount depends on the percentage ofthe service-connected disability as certified by the U.S. Department ofVeterans’ Affairs. If the veteran has a service-connected disability of 30% ormore but less than 50%, then the annual exemption is $2,500; if the veteran hasa service-connected disability of 50% or more but less than 70%, then theannual exemption is $5,000; and if the veteran has a service-connecteddisability of 70% or more, then the residential property is exempt fromtaxation under this Code.

 

Who is eligible?

To qualify for the SHEVD, the veteran must

• be an Illinois resident who served as a memberof the U.S. Armed Forces on active duty or state active duty, Illinois NationalGuard, or U.S. Reserve  Forces, and who has an honorable discharge;

• have at least a 30 percent service-connecteddisability certified by the U.S. Department of Veterans’ Affairs; and 
• own and occupy the property as the primary residence on January 1 of theassessment year or lease and occupy a single family residence on January 1 ofthe assessment year and be liable for the payment of the property taxes to thecounty.


Note: The property’s total EAV must be less than $250,000 after subtracting anyportion used for commercial purposes. “Commercial purposes” include any portionof the property rented for more than 6 months. If you previously received theSHEVD and now reside in a facility licensed under the Nursing Home Care Act oroperated by the U.S. Department of Veterans’ Affairs, you are still eligible toreceive the SHEVD provided your property is occupied by your spouse; or remainsunoccupied during the assessment year.


 

In accordance with:
"Section 10-300 of the Property Tax Code (35 ILCS 200/10-240"


VETERANS ORGANIZATION ASSESSMENT FREEZE:    (PTAX-763)

For the Taxable year 2000 and thereafter, theassessed value of real property owned and used by a veterans' organizationchartered under federal law, on which is located the principal building for thepost, camp, or chapter, must be frozen by the chief county assessment officerat (i) 15% of the 1999 assessed value of the property for property thatqualifies for the assessment freeze in taxable year 2000 or (ii) 15% of theassessed value of the property for the taxable year that the property firstqualifies for the assessment freeze after taxable year 2000.

The veterans organization must annually submit an application to the chiefcounty assessment officer on or before December 31 of the assessment year incounties with a population of less than 3,000,000.


This Section shall not apply to parcels exemptunder Section 15-145 (Source: P.A. 91-635, eff. 8-20-99.) 

(35 ILCS 200/15-167)

RETURNING VETERANS' STANDARD HOMESTEAD EXEMPTION:(PTAX-341)

A one-time $5,000 in EAVof the veteran's principal residence for the taxable year that the veteranreturns from active duty in an armed conflict involving the United States. Thismeans the exemption is only for a single year, but the veteran can receive theexemption again if they return from active duty in a subsequent year. 

The veteran files form PTAX-341 each assessmentyear when they return home to receive the exemption.