The Illinois Application For Homestead Exemption Limited (Form PTAX-343) is an application that homeowners in Illinois must file with their county assessor’s office in order to receive a homestead exemption on their property tax bill. The homestead exemption is a tax incentive program that provides homeowners with a limited reduction in their property taxes. The amount of the homestead exemption varies from county to county and is based on the assessed value of the home. The application is available online from the Illinois Department of Revenue website. There are two types of homestead exemption available in Illinois: the General Homestead Exemption and the Senior Citizens Homestead Exemption. The General Homestead Exemption is for homeowners aged 65 or older or who have a disability, and provides a reduction of up to $6,000 on the assessed value of the home. The Senior Citizens Homestead Exemption is for homeowners aged 65 or older and provides a reduction of up to $8,000 on the assessed value of the home. In order to qualify for either exemption, homeowners must meet certain income requirements. The application must be filed before the first day of the tax year in order to receive the exemption.
The Illinois Application For Homestead Exemption Limited (Form PTAX-343) is an application that homeowners in Illinois must file with their county assessor’s office in order to receive a homestead exemption on their property tax bill. The homestead exemption is a tax incentive program that provides homeowners with a limited reduction in their property taxes. The amount of the homestead exemption varies from county to county and is based on the assessed value of the home. The application is available online from the Illinois Department of Revenue website. There are two types of homestead exemption available in Illinois: the General Homestead Exemption and the Senior Citizens Homestead Exemption. The General Homestead Exemption is for homeowners aged 65 or older or who have a disability, and provides a reduction of up to $6,000 on the assessed value of the home. The Senior Citizens Homestead Exemption is for homeowners aged 65 or older and provides a reduction of up to $8,000 on the assessed value of the home. In order to qualify for either exemption, homeowners must meet certain income requirements. The application must be filed before the first day of the tax year in order to receive the exemption.
