Illinois veterans and persons with disabilities may be eligible for tax relief through the property tax homestead exemptions and mobile home exemptions. Due to this issue, the exemption may not appear on the current property tax bill for some accounts.Applicants must file a Form PTAX-341, Application for Returning Veterans' Homestead Exemption, with the Chief County Assessment Office. This annual exemption reduces the Equalized Assessed Value (EAV) of a disabled veteran's home, likely lowering the total tax bill. Form(s) and Documentation. Depending on your disability rating, income and the state you live in, you may be able to receive a partial or full property tax exemption. What is the Standard Homestead Exemption for Veterans with. Disabilities (SHEVD)?. Join us for a workshop to learn about the Cook County Assessor's Office and homeowner exemptions. VA helps Veterans, Servicemembers, and eligible surviving spouses become homeowners.