Illinois Sample Letter for Exemption of Ad Valorem Taxes

State:
Multi-State
Control #:
US-0389LTR
Format:
Word; 
Rich Text
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This form is a sample letter in Word format covering the subject matter of the title of the form.
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  • Preview Sample Letter for Exemption of Ad Valorem Taxes
  • Preview Sample Letter for Exemption of Ad Valorem Taxes
  • Preview Sample Letter for Exemption of Ad Valorem Taxes
  • Preview Sample Letter for Exemption of Ad Valorem Taxes

How to fill out Sample Letter For Exemption Of Ad Valorem Taxes?

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FAQ

You send a cover letter to the IL Department of Revenue, written on your organization's letterhead, requesting the tax exemptions. Include with the letter copies of the charity's articles of incorporation, bylaws, IRS letter granting tax-exempt status, an explanation of the charity's activities and goals.

The original 2023 Illinois Withholding Tax Tables from the state estimated the personal exemption allowance at $2,625 for 2023. Note: The Illinois individual income tax rate has not changed. The rate remains 4.95 percent.

To apply for an Illinois sales tax exemption number, your organization should submit Form STAX-1, Application for Sales Tax Exemption, or Apply for or Renew a Sales Tax Exemption online using MyTax Illinois.

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.

You may file up to 4 exemptions. These may include: homeowner residents, senior citizens, veterans, disabled veterans, those with disabilities, and home improvements. The remaining value (called the ?Adjusted Equalized Assessed Value?) is multiplied by your local tax rate.

For persons dying in 2023, the federal exemption for Federal Estate Tax purposes is $12,920,000. The exclusion amount for Illinois Estate Tax purposes is $4,000,000. The exclusion amount is a taxable threshold and not a credit against tax.

This annual exemption is available for property that is occupied as a residence by a person 65 years of age or older who is liable for paying real estate taxes on the property and is an owner of record of the property or has a legal or equitable interest therein as evidenced by a written instrument, except for a ...

For tax years beginning January 1, 2022, it is $2,425 per exemption. If someone else can claim you as a dependent and your Illinois income is $2,425 or less, your exemption allowance is $2,425. If income is greater than $2,425, your exemption allowance is 0. For the 2021 tax year, it is $2,375 per exemption.

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Illinois Sample Letter for Exemption of Ad Valorem Taxes