Illinois Historic Resident Freeze-2012 is a program that provides property tax relief to Illinois homeowners who have lived in their home for at least 10 years and have an assessed value of less than $250,000. The program freezes the assessed value of the home, preventing any further increases in the assessed value, and the homeowner's property taxes will not increase beyond the amount paid in the first year of the freeze. There are two types of Illinois Historic Resident Freeze-2012: the Senior Citizen Assessment Freeze and the Disabled Person Assessment Freeze. The Senior Citizen Assessment Freeze is available to Illinois residents who are 65 years of age or older and meet certain income qualifications. The Disabled Person Assessment Freeze is available to Illinois residents who are disabled, either permanently or temporarily, and are receiving benefits from the Social Security Disability Insurance Program or the Supplemental Security Income Program.
Illinois Historic Resident Freeze-2012
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FAQ
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.
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.
The Illinois Revenue Act (35 ILCS 200/Art. 10 Div. 4) provides owner-occupants with an eight-year freeze on the assessed value of their historic residences. After the eight-year assessment freeze period, there is a four-year period during which the property's assessed value steps up to its current amount.
Property Tax Freeze for Historic Residences What it does: Freezes property taxes over a 12-year period for rehabilitating an owner-occupied single-family home, condominium, cooperative unit, or a multi- family building of up to 6 units (where one of the units is owner-occupied).
The Senior Freeze Exemption (Senior Citizens Assessment Freeze Homestead Exemption) allows a qualified senior citizen to apply for a freeze of the equalized assessed value (EAV) of their property for the year preceding the year in which they first apply and qualify for this exemption.
You can get your property taxes lowered by proving that your house is worth less than the assessor says it is. To do this, you have to appeal to your local board of review. You can find contact information for your local board of review on the Illinois Property Tax Appeal Board website.
