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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FAQ
Yes, Illinois offers property tax exemptions specifically for seniors, aiming to alleviate their financial burdens. Seniors can benefit from the Illinois Homeowner Exemption and apply for the Senior Citizen Exemption Combined application to receive additional savings. These exemptions can make a substantial difference in property tax assessments, providing much-needed relief for older homeowners. Exploring these options can enhance your financial security and peace of mind.
In Illinois, tax-exempt status is generally available to specific qualifying individuals, such as seniors and people with disabilities. To benefit from exemptions like the Illinois Homeowner Exemption or the Senior Citizen Exemption Combined application, applicants must meet several criteria, including income limits and residency requirements. Understanding these qualifications can help you secure significant tax savings.
The homestead exemption is not automatically applied in Illinois. Homeowners must actively apply to receive the Illinois Homeowner Exemption. However, once approved, the exemption can continue year after year as long as eligibility criteria are met. Using the Senior Citizen Exemption Combined application can simplify this process for eligible seniors.
In Cook County, the homeowner exemption amount for seniors can significantly lower your property taxes. Typically, seniors may qualify for additional benefits beyond the standard exemption. The current Illinois Homeowner Exemption for seniors can reduce the assessed value of your home by $8,000. It's important to explore the Senior Citizen Exemption Combined application to ensure you maximize these benefits.
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.