Taxpayers whose single-family home, townhouse, condominium, co-op or apartment building (up to six units) is their primary residence can save a certain dollar amount per year, depending on local tax rates and assessment increases. First-time applicants must have been the occupant of the property as of January 1 of the tax year in question.
Senior Citizen Exemption
The Senior Citizen Exemption provides tax relief by reducing the equalized valuation of an eligible residence. This savings is in the form of a deduction on the second-installment of the real estate tax bill.
- Must be 65 years of age or older
- Must either own the property or have a lease or contract which make the applicant responsible for the real estate taxes
- The property must be in the applicant's principal residence
Senior Freeze Exemption
The Senior Freeze Exemption allows qualified senior citizens to apply for a freeze of the equalized assessed value (EAV) of their properties for the preceding year in which the applicant first qualifies and applies for this exemption. Those who qualify and receive this exemption should be aware that this does not automatically freeze the amount of their tax bill. Only the EAV remains the fixed amount. The amount of dollars that the taxing districts as for in the form of a levy may change and thus alter a tax bill.
- be 65 years of age or older in the taxable year
- meet a household income limit (contact the Assessors Office for the yearly amounts)
- Own the property, or have a legal, equitable or leasehold interest in the property within a certain time frame
- Be liable for the property tax payments in the current and previous year
- Use the property as a principal residence within a certain time frame
Returning Veteran Exemption
Veterans returning from active duty in armed conflict are eligible to recieve a dollar amount reduction in the equalized assessed value (EAV) of their property on for each taxable year in which they return.
- Be an Illinois resident who has served as a member of the U.S. Armed Forces, Illinois National Guard or U.S. Reserve Forces
- Be returning from active duty in an armed conflict involving the armed forces of the U.S.
- Owned or had a legal or equitable interest in the property and used it as a principal place of residence during a certain time frame
- Be liable for the payment of property taxes
Disabled Veteran Exemption
Veterans with a service connected disability as certified by the U.S. Department of Veterans' Affairs, are eligible for this annual exemption.
- Be an Illinois resident who has served as a member of the U.S. Armed Forces on active duty or on active duty in the state of Illinois, Illinois National Guard or U.S.Reserve Forces and has been honorably discharged
- Have at least a 50% service-connected disability certifited by the U.S. Department of Veterans Affairs
- Owned and occupied the property as the primary residence during a certain time frame
- Meet other EAV requirements
Disabled Person Exemption
This exemption provides disabled persons with an annual dollar amount reduction in the equalized assessed value (EAV) of the property. This exemption cannot be recieved with the Disabled Veterans' Exemption.
- Be disabled or become disabled during the assessment year
- Own or have a legal or equitable interest in the property, or a leasehold interest of a single-family residence
- Occupy the property as the principal residence during a certain time frame
- be liable for the payment of property taxes
Board of Review Completes 2013 Appeals Session Early; Positioning Tax Bills to Meet Statutory Deadline for Third Straight Year
Meeting statutory deadline reduces costs to local government entities
(Chicago)—Today, the Cook County Board of Review officially closed its 2013 Assessment Appeal Session. On April 17, 2014, a week ahead of schedule, the Board of Review certified its analysis of appeals on more than 402,000 properties with the County Assessor. The over 402,000 property index numbers (PINs) appealed was the third highest in recorded history of the Board and the highest number of appeals for the North triennial assessment year. Nearly eighty-seven percent of all appeals filed at the Board of Review were filed online. This is the highest percentage of online appeals processed by the Board in a single session since online filing was instituted in 2011. Because of the increased volume of appeals, the Board of Review is in the process of re-engineering its internal workflow to make the appeal process more efficient, taxpayer friendly for everyday property owners, and more transparent.
For the third year in a row, the timely close of the Board of Review positions Cook County to meet its statutory deadline to mail tax bills by July 1, 2014 with a payment due date of August 1, 2014. This allows local school districts, libraries and other local government entities to timely receive property tax funding and avoid tax anticipation loans to start the school year and fund operations.
“The Board staff should be commended for doing an outstanding job in challenging circumstances,” said Commissioner Michael Cabonargi. “Our staff has worked hard and smart to ensure home and business owners get a fair assessment and the tax system works for them.”
“Chicago and Cook County property owners have been overburdened with excessive property taxes. Government needs to listen to their concerns because they are real,” said Commissioner Larry R. Rogers, Jr. “Listening to constituents is an important part of what has made the Board of Review an effective, efficient, and taxpayer responsive agency,” Chairman Larry Rogers, Jr. added.
“Residents want consistency and clarity in the property tax system. Completing our analysis on all appeals by April 17 could help ensure that tax bills can be issued at the same time every year, unlike in prior years when a bill could be due in the summer, fall or around the holidays which disrupts household finances,” said Commissioner Dan Patlak. “Now that the County is communicating and working together, the tax system should be able to continue this success and meet our responsibility to the residents of Cook County.”
Any reduction in assessment granted by the Board of Review will be seen on the 2nd installment tax bills expected to be issued this summer. The Board of Review will open the 2014 Appeal Session for taxpayer filings this summer with a preregistration period. Residents are encouraged to check the Board of Review’s website at www.cookcountyboardofreview.com for updates.
The Cook County Board of Review is a quasi-judicial independent office responsible for adjudicating assessment appeals for all property in Cook County. The Board consists of three Commissioners elected in three distinct districts in Cook County. In the last ten years, the Board has seen a 200% increase in appeals filed without a substantial increase in technology and a decrease in funding. Please contact the Board of Review at (312) 603-5542 with any questions. For more information, please go to www.CookCountyBoardofReview.com.