Tuesday, June 27, 2017

Exemptions

Wednesday, July 29, 2015

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

General Homestead Exemption

Senior Citizens Homestead Exemption

Senior Citizens Assessment Freeze


Disabled Veterans

Additional Information on Exemptions:

Senior Citizen Assessment Freeze Exemption

Property Tax Exemption Information



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

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

Where married persons maintain and reside in separate residences qualifying as homestead property, each residence shall receive 50% of the total reduction in equalized assessed valuation provided by this Section.

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

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



In accordance with "Section 15-170 of the Property Tax Code (35 ILCS 200/15-170),"

SENIOR CITIZENS HOMESTEAD EXEMPTION:
An annual homestead exemption is granted for property that is occupied as a residence by a person 65 years of age or older who is liable for paying real estate taxes on the property and is an owner of record of the property or has a legal or equitable interest therein as evidence by a written instrument, except for a leasehold interest, other than a leasehold interest of land which a single family residence is located which is occupied as a residence by a person 65 years or older, who has an ownership interest therein, legal, equitable or as a lessee, and or which he or she is liable for the payment of property taxes.

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

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

The maximum reduction shall be $3,500 in counties with less than 3,000,000 inhabitants for 2007, $4,000 for 2008 and thereafter.

To file for a Senior Citizen Homestead Exemption you 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 an application from the Supervisor of Assessments office or your local Township Assessors Office. If the application is returned in the mail, the application must be notarized and the information requested above must accompany the application.


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

SENIOR CITIZENS ASSESSMENT FREEZE HOMESTEAD EXEMPTION:

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

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

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

(i) an owner of record of the property or had legal or equitable interest in the property as evidenced by a written instrument or

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

Beginning in taxable year 1994, a senior citizens assessment freeze homestead exemption is granted for real property that is improved with a permanent structure that is occupied as a residence by an applicant who
(i) is 65 years of age or older during the taxable year,

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

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

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

This homestead exemption shall also apply to a leasehold interest in a parcel of property improved with a permanent structure that is a single family residence that is occupied as a residence by a person who

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

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

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

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

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

In counties having less than 3,000,000 inhabitants, beginning with taxable year 1995 and thereafter, to receive the exemption, a person shall submit an application by July 1 of each taxable year to the Chief County Assessment Officer of the county in which the property is located. A county may, by ordinance, establish a date for submission of applications that is different than July 1. The applicant shall submit with the application an 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), and principal dwelling place of members of the household on January 1 of the taxable year. The Department shall establish, by rule, a method for verifying the accuracy of affidavits filed by applicants under this Section. The applications shall be clearly marked as applications for the Senior Citizens Assessment Freeze Homestead Exemption.

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

Except as provided in this Section, all information received by the chief county assessment officer or the Department from applications filed under this Section, or from any investigation conducted under the provisions of this Section, shall be confidential, except for official purposes or pursuant to official procedures for collection of any State or local tax or enforcement of any civil or criminal penalty or sanction imposed by this Act or by any statute or ordinance imposing a State or local tax. Any person who divulges any such information in any manner, except in accordance 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 up to an assessed value of $70,000, owned and used exclusively by a disabled veteran, or the spouse or unmarried surviving 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 the United States and whose disability is of such a nature that the Federal Government has authorized payment for purchase or construction of Specially Adapted Housing as set forth in the United States Code, Title 38, Chapter 21, Section 2101.

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

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

VETERANS ORGANIZATION ASSESSMENT FREEZE:
For the taxable year 2000 and thereafter, the assessed value of real property owned and used by a veterans organization chartered under federal law, on which is located the principal building for the post, camp, or chapter, must be frozen by the chief county assessment officer at (i) 15% of the 1999 assessed value of the property for property that qualifies for the assessment freeze in taxable year 2000 or (ii) 15% of the assessed value of the property for the taxable year that the property first qualifies for the assessment freeze after taxable year 2000.

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

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