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Illinois veterans and persons with disabilities may be eligible for tax relief through the property tax homestead exemptions and mobile home exemptions. A veteran and their spouse may qualify for one or more of the following exemptions: See PIO-74 at tax.illinois.gov for more information on homestead exemptions.
Veterans 70% or more disabled receive an EAV reduction of $250,000, and because of this can be totally exempt from property taxes on their home. The automatic renewal of this exemption due to the COVID-19 pandemic has ended. All applicants must reapply annually.
Disabled Veterans' Standard Homestead Exemption. The Disabled Veterans' Standard Homestead Exemption provides a reduction in a property's EAV to a qualifying property owned by a veteran with a service-connected disability.
Veterans and surviving spouses in Illinois may qualify for a property tax exemption. Eligibility and exemption amounts can vary depending on disability rating, if the tax is for specially adapted housing, and if the Veteran has recently returned from active duty in an armed conflict involving the armed forces of the United States.
The reformed bill, however, now permits the first $250,000 of a property's valuation to be exempt from taxation, a measure that can to significantly reduce the financial burden on eligible...
The Cook County Assessor’s Office administers property tax exemptions that may contribute to lowering veteran's property tax bill. For veterans returning from active duty in armed conflict, the Returning Veterans Exemption provides a $5,000 reduction in the equalized assessed value of their property for the taxable year in which they return.
To continue to receive the Standard Homestead Exemption for Veterans with Disabilities (SHEVD), you must file Form PTAX-342-R each year with your Chief County Assessment Officer (CCAO). Failure to do so may result in the termination of the exemption.
Disabled Veteran’s Property Tax Exemption. Changes to Illinois Property Tax Code (35 ILCS 200/10-23) provides tax breaks to veterans and their families who make accessibility improvements to their home or mobile home.
Veterans with a certified disability of: 30-49% can qualify for a $2,500 EAV reduction. 50-69% can qualify for $5,000 EAV reduction. 70% or more now can qualify for a 100% tax exemption. A new state law has eased the requirements for eligibility.
Veterans and their spouses who qualified for the Specially Adapted Housing Exemption for Veterans with Disabilities (35 ILCS 200/15-165) for the 2014 tax year will receive additional property tax relief on their 2015 property tax bills.