The Illinois Homeowner Exemption and Senior Citizen Exemption Combined Application is a form used to apply for both the Homeowner Exemption and Senior Citizen Exemption programs in the state of Illinois. It can be used by homeowners who are eligible to receive both exemptions, and it allows them to apply for both at the same time. The application includes a section that must be completed by the homeowner, as well as a section that must be completed by the county assessor. There are two main types of Illinois Homeowner Exemption and Senior Citizen Exemption Combined Application: the Regular Combined Application and the Senior Citizen Combined Application. The Regular Combined Application must be completed by all applicants regardless of age, while the Senior Citizen Combined Application specifically applies to seniors aged 65 or older. Both applications require information about the property, the owner, and the exemption status. The completed application must be submitted to the county assessor, who will review the application and determine the eligibility for the exemptions.
Illinois Homeowner Exemption and/or Senior Citizen Exemption Combined application
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How to fill out Illinois Homeowner Exemption And/or Senior Citizen Exemption Combined Application?
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Taxpayers whose primary residence is a single-family home, townhouse, condominium, co-op or apartment building (up to six units) are eligible. First-time applicants must have been the occupants of the property as of January 1 of the tax year in question.
Taxpayers are only entitled to one homestead exemption on their primary residence for any given tax year. If you received a notice of discovery for your primary residence, please contact the Assessor's Office if you have not already done so.
Senior homeowners are eligible for this exemption if they are over 65 years of age and have a total household annual income of $65,000 or less in the 2021 calendar year. A "Senior Freeze" Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property.
Senior Citizens Real Estate Tax Deferral Program allows persons 65 years of age and older, who have a total household income of less than $65,000 and meet certain other qualifications, to defer all or part of the real estate taxes and special assessments on their principal residences.
General Homestead Exemption (GHE) (35 ILCS 200/15-175) The amount of exemption is the increase in the current year's equalized assessed value (EAV), above the 1977 EAV, up to a maximum of $10,000 in Cook County, $8,000 in counties contiguous to Cook County, and $6,000 in all other counties.
This program allows persons 65 years of age and older, who have a total household income for the year of no greater than $65,000 and meet certain other qualifications, to defer all or part of the real estate taxes and special assessments (up to a maximum of $7,500) on their principal residences.
What is the Homestead Exemption in Illinois? The Illinois homestead exemption protects up to $15,000 of equity in your home. For example, if you own a home with an original mortgage of $100,000, and you now only owe $85,000, the $15,000 in equity will receive protection if you file.
The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of a property by $10,000. EAV is the partial value of a property used to calculate tax bills.