Learn about how to qualify for homestead, including services for veterans, blind or disabled people, and residential or agricultural properties. Illinois veterans and persons with disabilities may be eligible for tax relief through the property tax homestead exemptions and mobile home exemptions.Applicants must file a Form PTAX-341, Application for Returning Veterans' Homestead Exemption, with the Chief County Assessment Office. This market value exclusion program reduces the market value of the home for tax purposes, which may reduce your property tax. Disabled veterans may have some or all of their property taxes covered. This is called a Standard Homestead Exemption for Veterans with Disabilities (SHEVD). The proposal would create a property tax exemption for property that: 1) was classified as class 2b for taxes payable in 2024;.