Most homeowners are eligible for this exemption if they own and occupy their property as their principal place of residence. This exemption lasts up to four years.Application Due Date: No application is required. General Homestead Exemption Requires an initial application, rentals need annual renewal. The BOR accepts exemption applications for approximately 30 days, four times each year. To apply, your organization should complete one of the following four applications, available from the chief county assessment officer (CCAO). Link to obtain further information about the various exemptions that are offered, the documents and filing process required for each exemption to be claimed. General Homestead Exemption is better known as the Owner Occupied Exemption. Illinois law provides homeowners with certain homestead exemptions–if you are the owner of record and live in the home as a primary residence. Be liable for the payment of real estate taxes on the property.
