Illinois veterans and persons with disabilities may be eligible for tax relief through the property tax homestead exemptions and mobile home exemptions. This annual exemption reduces the Equalized Assessed Value (EAV) of a disabled veteran's home, likely lowering the total tax bill.Disabled veterans may have some or all of their property taxes covered. This is called a Standard Homestead Exemption for Veterans with Disabilities (SHEVD). You must apply for the exemption with the County Assessment Office. Service members must have served on active duty in the U.S. Armed Forces in an armed conflict to be eligible.