Tax Relief

DEPARTMENT OF REVENUE EXEMPTIONS & EFFECTIVE TAX YEARS

Senior Citizens Homestead Exemption (SCHE) 1971
Homestead Improvement Exemption (HIE) 1975
Disabled Veterans Homestead Exemption (DVHE) 1969
General Homestead Exemption (GHE) 1978
Senior Citizens Assessment Freeze Homestead Ex. (SCAFHE) 1994
Returning Veterans’ Homestead Exemption (RVHE) 2007
Disabled Veterans Standard Homestead Exemption (DVSHE) 2007
Disabled Persons’ Homestead Exemption 2007
Natural Disaster Homestead Exemption 2012

Please read the back of your tax bill for additional information concerning many of these exemptions. For questions or exemption applications contact the Supervisor of Assessments office.

Senior Citizen Tax Deferral Program
Qualified senior citizens may defer all or part of the property taxes on their personal residence only. The deferral is similar to a loan against the property’s market value. A lien is filed on the property in order to ensure repayment of the deferral. The State pays the property taxes and then recovers the money, plus 6 percent annual interest, when the property is sold or transferred. The deferral must be repaid within one year of the taxpayer’s death or 90 days after the property ceases to qualify for this program. The maximum amount that can be deferred, including interest and lien fees, is 80 percent of the taxpayer’s equity interest in the property;  limited to $75,000 per year. There are two application forms that must be completed. Application forms IL-1017 and IL-1018 may be received from the County Collector’s office. The filing deadline is March 1st of each tax year.

To qualify you must:

• Be 65 or older by June 1st of the tax year.
• Have a total household income of no more than $65,000.
• Have lived in the property for at least 3 years, except when you may have been in a nursing or sheltered care home.
• Own the property which is used exclusively for residential purposes. This includes a condominium or a dwelling unit in a multi-dwelling building owned and operated as a cooperative. Ownership is limited to you and your spouse.
• Not owe delinquent property taxes on the property.