The Illinois Homestead Exemption Program
Through several different types of exemptions, this program either reduces or defers an increase in the equalized value of your property. The net effect of these exemptions is to lower the assessed valuation to which the tax rate is then applied. As explained below, qualifications and application procedures vary for each program. However, you must own the property to qualify for any of these exemptions and be its principle resident.
General Homestead Exemption This exemption lowers the equalized assessed value of your property by $5,000. For 2008, the exemption increases to a maximum of $5,500; for 2009, the exemption will be $6,000. To receive this exemption, you must have lived on the property. The Township Assessor's office initiates this exemption.
Homestead Improvement Exemption This exemption defers for four years any increase in the assessment of your property due to an addition or other improvement to your home for which the Township Assessor would add value. A maximum of $25,000 of assessed value may be deferred under this program. The Township Assessor's office initiates this exemption.
Senior Homestead Exemption This exemption lowers the equalized assessed value of your property by $3,500 for the tax year 2007 and increases to $4,000 for the tax year 2008. This exemption may be claimed in addition to the Homestead Limited Exemption. To receive this exemption, you must:
• Have lived on the property on or before January 1st of the tax year.
• Have reached age 65 during the tax year.
• You can apply for the exemption at the Township Assessor's office or the
Supervisor of Assessments office located at the County building.
You will need proof of age, driver’s license or birth certificate, with you when you apply. (If the property is in a trust, a copy of the trust agreement must be attached.)
Disabled Persons Exemption (New for 2008) Annually exempts $2,000 from assessed value for a person who has a disability that has lasted or can expect to last more than a year, rendering them unable to engage in substantial gainful activity by reason of medically determinable mental or physical impairment. The DOR is directed to prescribe form, manner, rule and regulation for administration of this exemption. Proof of eligibility for disability benefits under Social Security or an Illinois Disabled Person ID card for Class 2 disability will constitute proof of eligibility for this exemption. County office is required to mail an annual verification of eligibility that must be returned by the recipient of the exemption.
Senior Citizens Assessment Freeze Homestead Exemption This exemption freezes the assessment on your home, but does not freeze the tax rate. This exemption may be claimed in addition to those described above. The actual taxes you pay may continue to increase based on the amounts levied by the taxing bodies where you reside (school districts, park districts, village/city, township, etc.). To receive this exemption, you must:
• Have fulfilled a property residency requirement as explained on the
application form.
• Be age 65 or older.
• Have a maximum household income of $50,000 for 2007. For 2008, the
maximum household income rises to $55,000.
This household income includes all persons using the property as their principal residence on January 1st of the tax year. Language has been added that the Chief County Assessment Officer may audit any taxpayer claiming the exemption and a statement to that fact must appear on the application. Also stated is that a taxpayer signing a fraudulent application is committing perjury as defined in the criminal code. Obtain an application for the exemption at the Supervisor of Assessments office or the Township Assessor's office. The filing deadline for the tax year is July 1st. Your complete application must be notarized and returned to:
Supervisor of Assessments
2200 North Seminary
Woodstock, Illinois 60098
815-334-4290Please note that this exemption must be renewed annually.
Senior Citizens Real Estate Tax Deferral Program This program is designed to allow senior citizens to defer payment of part or all of the property taxes on their homes. This program functions as a loan with an annual interest charge.
Note: The filing deadline for the program is March 1st of the tax year.
For more information contact:
McHenry County Collector (treasurer)
2200 North Seminary
Woodstock, Illinois 60098
815-334-4260
Senior Citizens Circuit Breakers Grants This program provides low-income senior citizens with yearly grants to help pay property taxes. The amount of the grant is determined by a formula, which takes into account your property taxes and your total household income.
For more information contact:
McHenry County Clerk
2200 North Seminary
Woodstock, Illinois 60098
815-334-4242
Disabled Veterans Exemption Under this program, up to $70,000 of the equalized assessed value of a home owned by a qualifying veteran, or the veteran's spouse or unmarried surviving spouse is exempt from property taxes. Disability is such that the Federal Government has authorized payment for purchase or construction of specially adapted housing. Certification is made to DOR by US Dept. of Veteran’s Affairs, then state certified to us. Note: An applicant may not claim both this and either the new disabled person exemption or the new disabled veteran exemption.
Returning Veterans Exemption (New for 2008) Exempts $5,000 from assessed value for one year only, being the year in which the veteran returns from an armed conflict involving the United States.
Disabled Veterans Standard Exemption (New for 2008) Annually exempts $5,000 from assessed value for veterans having at least 75% disability or annually exempts $2,500 from assessed value for veterans having at least 50% disability but less than 75%. Percentage of disability will be determined by certification from US Department of Veterans Affairs. Form will describe documents that will be required for proof of eligibility. Exemption continues with unmarried surviving spouse. Assessed value of property must be less than $250,000. Taxpayer claiming disabled veterans exemption or disabled persons exemption may not claim this exemption.
For more information contact:
Illinois Department of Veterans' Affairs
1301 Sunset Ridge on Rte 14
Woodstock, Illinois 60098
815-338-9292
The staff in the Nunda Township Assessors office will be happy to provide additional information, and we encourage you to contact us if you have any questions about these programs.
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