The Illinois Returning Veterans Exemption (EVE) is a tax break for veterans who have served in the U.S. Armed Forces and are returning to Illinois to live. The exemption applies to homestead property—the home a veteran owns and lives in—and exempts a portion of the assessed value of the property from taxation. There are three types of Ives: the General Homestead Exemption, the Disabled Veterans Homestead Exemption, and the Veterans Homestead Extension. The General Homestead Exemption provides a $5,000 reduction in the assessed value of the veteran’s home, while the Disabled Veterans Homestead Exemption provides a $10,000 reduction. The Veterans Homestead Extension applies to veterans whose property has been assessed at an amount greater than $250,000, and allows them to receive a reduction in the assessed value of up to $20,000. The exemption is available to all veterans who have served in the U.S. Armed Forces and are living in Illinois.