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4 Illinois Tax Relief Programs
January 27, 2024
In Illinois, several tax relief programs are available to help homeowners reduce their real estate tax burden. Here are a few Illinois Tax Relief Programs to look into.
General Homestead Exemption
This program provides a reduction in assessed property value for homeowners who use their property as their primary residence. The exemption amount varies depending on the county, but it typically ranges from $6,000 to $10,000. You can contact your county assessor’s office for more information on how to apply.
Senior Citizen Homestead Exemption
This program offers additional tax relief for senior citizens aged 65 and older. It provides an additional exemption amount on top of the General Homestead Exemption. The exemption amount varies by county. Again, you should contact your county assessor’s office for specific details and eligibility requirements.
Senior Freeze Homestead Exemption
This program is designed to help lower-income senior citizens keep their property taxes stable as their income may decrease over time. It freezes the assessed value of the property, preventing it from increasing due to inflation. Eligibility requirements include being 65 or older, having a maximum household income threshold, and meeting other criteria. You can find more information and application forms on the Illinois Department of Revenue’s website.
Disabled Veterans’ Homestead Exemption
This program provides property tax relief to disabled veterans who own and occupy their primary residence. The exemption amount varies depending on the level of disability. Veterans should contact their local county assessor’s office or the Illinois Department of Veterans’ Affairs for more information.
For the most current and accurate information, I recommend visiting the official website of the Illinois Department of Revenue or contacting your local county assessor’s office directly.