The Illinois Veterans Organization Freeze (IOF) is a program designed to provide tax relief to veteran organizations in the state of Illinois. The program specifically freezes property tax assessments at the rate it was assessed when the veteran organization acquired the property. This freeze applies to veterans organizations that are either eligible for or already receiving tax-exempt status from the state of Illinois. Generally, the following veteran organizations are eligible for the IOF: • Veterans organizations chartered by Congress, • Veterans organizations chartered by the state of Illinois, • Veterans organizations that are members of the American Legion, VFW, or other recognized veterans organizations, • Veterans organizations that are non-profit, and • Veterans organizations that are organized for the mutual benefit of veterans. The IOF program has two types of freezes: a Permanent Freeze and a Temporary Freeze. The Permanent Freeze is applied to property tax assessments that remain frozen as long as the veteran organization owns the property. The Temporary Freeze applies to property tax assessments that are frozen for a period of ten years. After the ten-year period, the tax assessment is no longer frozen and the property is subject to annual property tax assessments.
Illinois Veterans Organization Freeze
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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.
This Homestead Exemption for Veterans with Disabilities is for veterans with a service-connected disability as certified by the U.S. Department of Veterans Affairs.
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.
You may file up to 4 exemptions. These may include: homeowner residents, senior citizens, veterans, disabled veterans, those with disabilities, and home improvements. The remaining value (called the ?Adjusted Equalized Assessed Value?) is multiplied by your local tax rate.
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.
Veterans or surviving spouses of veterans with a service-connected disability of 70% or more will be exempt from paying property taxes on their primary residences (100% reduction in EAV).
Most senior homeowners are eligible for this exemption if they are 65 years of age or older (born in 1957 or prior) and own and occupy their property as their principal place of residence. Once this exemption is applied, the Assessor's Office automatically renews it for you each year.
