Skip to content
MCC-property

MCC-property

Epicurean real estate

Primary Menu MCC-property

MCC-property

  • Real Estate News
  • House for Rent
  • Construction
  • Furniture
  • Apartment
  • Building
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Are You Getting All Your Property Tax Exemptions?
  • Furniture

Are You Getting All Your Property Tax Exemptions?

Rickey Andreu March 17, 2022

[ad_1]

The Cook County Assessor’s Office offers a variety of ways for homeowners in Cook County to save on their property tax bill. These Property Tax Exemptions can result in savings that appear on the second installment of your property tax bill—mailed in the summer.

It may seem daunting at first, but it’s fairly straightforward to determine if you are eligible for one of these Exemptions and to ensure that you are receiving the savings to which you are entitled.

Click on your county below for complete information and all 2021 Exemption application forms. You’ll also find a breakdown of each Cook County exemption below.

HOMEOWNER EXEMPTION

As a homeowner, you are eligible to receive the 2021 Homeowner Exemption if the property was your principal place of residence as of January 1, 2021. In addition, those who have a lease or contract for their principal residence that makes them responsible for the real estate taxes may also qualify for this Exemption – even if they are not the owner.

  • The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of your property by $10,000. The EAV is the partial value of a property that is used to calculate tax bills. So, this exemption amount ($10,000) is not the dollar amount by which a tax bill is lowered.
  • Applications for the 2021 Homeowners Exemption are now open.
  • Once you apply for and receive the Homeowners Exemption, it will renew automatically in subsequent years as long as your residence remains the same.
  • If you purchased a new-construction home that was not ready for occupancy until after January 1 of the tax year, the Homeowners Exemption will be prorated.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

SENIOR CITIZEN EXEMPTION

If you meet the requirements for the Homeowners Exemption outlined above AND you were born in 1956 or earlier, you are also eligible for the 2021 Senior Exemption.

  • The Senior Exemption reduces the Equalized Assessed Value (EAV) of your property by $8,000. The EAV is the partial value of a property that is used to calculate tax bills. So, this exemption amount ($8,000) is not the dollar amount by which a tax bill is lowered.
  • Applications for the 2021 Senior Exemption are now open.
  • Senior Exemptions renew automatically so you only have to apply once. If you already received this Exemption on the second-installment bill you received last summer (July 2021), you do not have to reapply this year.
  • If you moved in last year, you may be entitled to a prorated 2021 Senior Exemption based on time of occupancy as your principal residence. The application for a prorated Senior Exemption requires accompanying documents including a closing or settlement statement.
  • Individuals receiving the Senior Citizen Exemption automatically qualify for the Homeowner Exemption and do not have to apply for it separately.
  • If your parents passed away in 2021, their property may still be eligible for the Senior Exemption if they were alive and resided in the home as their permanent residence on January 1, 2021.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

SENIOR FREEZE EXEMPTION

You are likely eligible for this Exemption if you meet the requirements above for the Senior Citizen Exemption AND your total household income in the 2020 calendar year was $65,000 or less.

  • The Senior Freeze Exemption freezes the Equalized Assessed Value (EAV) of your property, so that it is not subject to increase. Although the EAV is constant, the amount of property tax you owe may fluctuate due to changes in the tax rate.
  • Applications for the 2021 Senior Freeze Exemption are now open.
  • Normally, you must apply annually for the Senior Freeze Exemption. Unlike the Homeowner and Senior Citizen Exemptions, it does not renew automatically. However, the Illinois State Legislature added a 1-year auto-renewal to support homeowners during the COVID-19 pandemic. So, if you received the Senior Freeze Exemption in 2020, it will be automatically renewed for the 2021 tax year.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

PERSONS WITH DISABILITIES EXEMPTION

You may qualify for this exemption if you were disabled or became disabled in 2021. In addition, you must own or have a legal, equitable or leasehold interest in a single-family residence that was your principal residence as of January 1, 2021.

  • The Persons with Disabilities Exemption reduces the Equalized Assessed Value of your home by $2,000. As noted above for the Homeowner Exemption, this is not the amount by which your tax bill will be lowered.
  • If a property received this Exemption in previous years and the taxpayer now resides in a facility licensed under the Nursing Home Care Act, their home is still eligible to receive this Exemption if the property is occupied by that individual’s spouse or if the property remains unoccupied.
  • Applications for the 2021 Persons with Disabilities Exemption are now open.
  • Normally, you must apply annually for this Exemption. Unlike the Homeowner and Senior Citizen Exemptions, it does not renew automatically. However, the Illinois State Legislature added a 1-year auto-renewal to support homeowners during the COVID-19 pandemic. So, if you received the Persons with Disability Exemption in 2020, it will be automatically renewed for the 2021 tax year.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

RETURNING VETERANS EXEMPTION

You may qualify for this Exemption if you are a veteran who returned from active duty in an armed conflict involving the armed forces of the U.S. in the 2021 calendar year. You must be an Illinois resident who served as a member of the U.S. Armed Forces, Illinois National Guard or U.S. Reserve Forces. In addition, you must own or have a legal, equitable or leasehold interest in the property and used it as your principal residence as of January 1, 2021.

  • The Returning Veterans Exemption reduces the Equalized Assessed Value of your home by $5,000. As noted above for the Homeowner Exemption, this is not the amount by which your tax bill will be lowered.
  • Applications for the 2021 Returning Veterans Exemption are now open.
  • This Exemption does not renew automatically and a new Exemption application must be filed for the 2021 tax year.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

VETERANS WITH DISABILITIES EXEMPTION

This Exemption is for veterans with a service-connected disability as certified by the U.S. Department of Veterans Affairs. To qualify, you must be an Illinois resident who has served as a member of the U.S. Armed Forces on active duty or state active duty, a member of the Illinois National Guard or U.S. Reserve Forces, and you must have been honorably discharged. Furthermore, you must have owned and occupied the property as your primary residence in 2021.

  • The Veterans with Disabilities Exemption reduces the Equalized Assessed Value (EAV) that is used to calculate your tax bill. The amount of reduction is based upon the level of disability as certified by the U.S. Department of Veterans Affairs:
    • 30% to 49% Disability: EAV reduced by $2,500
    • 50% to 69% Disability: EAV reduced by $5,000
    • 70% or Greater Disability: EAV reduced by $250,000
    • As noted above for the Homeowner Exemption, the amount by which the EAV is reduced is not the amount by which your tax bill will be lowered.
  • Due to COVID-19, if you received the Veterans with Disabilities Exemption in 2020, it will be automatically renewed for 2021. Normally, this Exemption must be renewed annually.
  • If you were eligible for this Exemption in a prior tax year but the Exemption was not on your second installment bill, you can apply for a refund or corrected bill.

OTHER EXEMPTIONS

In addition, there are two other exemptions available to some Cook County residents for which the application process differs from the above:

  • Approximately 2% of homeowners will qualify for a Long-Time Homeowner Exemption. In addition to meeting income and residency requirements, applicants must have a significant assessment increase that exceeds the maximum amount set by the State Legislature. The Assessor’s Office automatically detects which properties qualify based on assessment increases—and mailed applications in early March to the approximately 11,000 Cook County property owners who qualify for this exemption.

[ad_2]

Source link

Post Navigation

Previous Government officials ‘didn’t understand the risk’ of fire safety decisions, Grenfell inquiry hears
Next After tweeting ‘Will own no house,’ Elon Musk has sold his 7 homes for nearly $130 million

More Stories

The Benefits of Using Reclaimed Wood Furniture
  • Furniture

The Benefits of Using Reclaimed Wood Furniture

Rickey Andreu August 11, 2024 0
Made in America: Importance of American Furniture Stores
  • Furniture

Made in America: Importance of American Furniture Stores

Rickey Andreu July 22, 2024 0
Where To Find Computer Desk Furniture For A Home Office
  • Furniture

Where To Find Computer Desk Furniture For A Home Office

Rickey Andreu July 18, 2024 0
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« May    

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016

Categories

  • Apartment
  • Building
  • Construction
  • Furniture
  • House for Rent
  • Real Estate News

Recent Posts

  • Inside Trump’s Private Jet: The Features That Make It Luxurious
  • Trump’s Luxury Jet vs. Air Force One: A Bold Comparison
  • Transform Your Living Room with These Design Ideas
  • Modern Interior Design Ideas to Transform Your Home
  • Why Buying a House at Auction Could Be Your Best

Fiverr

Fiverr Logo

Tags

C&M Real Estate C&R Real Estate Services C.F. Real Estate C J Real Estate D&B Real Estate D'Arcy Real Estate D'Ettorre Real Estate D Real Estate Appraiser D Real Estate Daily D Real Estate Logo E Real Estate Agency E Real Estate Agents Act 2008 E Real Estate Corp E Real Estate Depot E Real Estate Depot Mission Tx E Real Estate Llc E Real Estate Logo E Real Estate Meaning F&C Real Estate Investments F&G Real Estate F Real Estate Developer F Real Estate Logo F Real Estate Management F Real Estate Words H&F Real Estate M&D Real Estate Real Estate Data Real Estate Definition Real Estate Degree Real Estate Desoto County Ms Real Estate Developer Real Estate Development Consultant Real Estate Dyer County Tn Real Estate Dyersburg Tn Real Estate Etf Real Estate Exam Prep Real Estate Exam Questions Real Estate Express Login Real Estate Express Reviews Real Estate Fayette County Tn Real Estate Florida Real Estate For Dummies Real Estate For Sale Real Estate For Sale Memphis Tn Real Estate For Sale Near Me
nestskin
firlyikasario

You may have missed

Inside Trump’s Private Jet: The Features That Make It Luxurious
  • Building

Inside Trump’s Private Jet: The Features That Make It Luxurious

Rickey Andreu May 20, 2025 0
Trump’s Luxury Jet vs. Air Force One: A Bold Comparison
  • Building

Trump’s Luxury Jet vs. Air Force One: A Bold Comparison

Rickey Andreu May 14, 2025 0
Transform Your Living Room with These Design Ideas
  • Real Estate News

Transform Your Living Room with These Design Ideas

Rickey Andreu May 10, 2025 0
Modern Interior Design Ideas to Transform Your Home
  • Real Estate News

Modern Interior Design Ideas to Transform Your Home

Rickey Andreu May 8, 2025 0
Why Buying a House at Auction Could Be Your Best
  • Building

Why Buying a House at Auction Could Be Your Best

Rickey Andreu May 1, 2025 0
mendocinocoastproperty.com | CoverNews by AF themes.

WhatsApp us