The Cook County Treasurer's Office offers a Senior Citizen's Tax Deferral program, please contact their office at (312) 443-5100. What if I own a cooperative? Owners of cooperative apartments must also submit a stock certificate, occupancy agreement, or trust agreement, along with their applications.

The homeowner should sign up for this exemption during the year in which he or she will turn 65. You will receive a renewal every year around January 1st. This exemption allows a reduction $5,000 in EAV.

In Cook County, the amount of the exemption is the difference between your base year EAV and your current year EAV or $2,000 whichever is greater. Freezing your property's EAV does not mean that your property taxes will not increase, however.

Senior Citizens Homestead Exemption The maximum amount of the reduction in equalized assessed value is $8,000 in Cook County and counties contiguous to Cook County or $5,000 in all other counties.

The Senior Homestead Exemption provides for a maximum of an $8,000 reduction from the equalized assessed valuation. For a senior whose property is subject to an average tax rate of $7.2970 per one hundred dollars of assessed value, this results in a tax savings of $584 ($8,000 x 7.2970%.).

Homestead exemptions are deducted from the assessed value of the qualifying property (40% of the fair market value.) To receive the benefit of the homestead exemption, the taxpayer must file an initial application. In Cook County the application is filed with the Tax Assessor's office.

The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of a property by $10,000.

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Senior Citizen Homestead Exemption. This file provides essential details about the senior property tax homestead exemption.It outlines eligibility criteria and application instructions. I'm going to show you how to apply for the homeowner exemption online with the cook county assessor's office. You may file up to 4 exemptions. Each year applicants must file Form PTAX-340, Senior Citizens Assessment Freeze Homestead Exemption Application and. See General Information. This file provides essential details about the senior property tax homestead exemption. It outlines eligibility criteria and application instructions. Who qualifies for a Senior Freeze Exemption?

Homestead Exemption Application For Senior Citizens In Cook

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