•May 2, 2018•

• General Homestead Exemption (Owner Occupied) (35 ILCS 200/15-175) — This exemption is for those who own and occupy residences or have a leasehold residence. This is a $6,000 reduction in EAV. If there is a leasehold residence, Lessee or Lessor must obtain an application from the Supervisor of Assessment Office.

• Senior Citizens Homestead Exemption (Elderly) (35 ILCS 200/15-170) — This exemption is for those who own and occupy residence or have a leasehold on residence and are 65 years of age or older. This is a $5,000 reduction in EAV.

• Senior Citizens Assessment Freeze Homestead Exemption (35 ILCS 200/15-172) —This exemption is for those who own and occupy residence or have a leasehold on residence and are 65 years of age or older and have resided in the residence for two Januarys and total household income is $65,000 or less. To maintain this exemption, one must complete the application annually by the county’s due date.      Login or Subscribe to read the rest of this story.