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Old 07-27-2014, 12:48 PM
 
38 posts, read 108,834 times
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Some of the properties I have look at showed a $6000 owner occupied tax exemption in the county records for many years. Are all home owners eligible for this? It seems it would significantly lower the tax burden.
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Old 07-27-2014, 08:54 PM
 
28,455 posts, read 85,370,617 times
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That "exemption" is a joke. It is not applied to the TAX one owes but the ASSESSED VALUE. As such it works out to be barely a few hundred dollars between owner occupied and income property. There are other "programs" that can "freeze" propety taxes for elderly / disabled low income home owners however even then the difference between taxes owed and taxes frozen comes due upon sale AND carries a hefty annual interst rate...

Property Tax Relief - Homestead Exemptions | tax.illinois.gov
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Old 07-28-2014, 10:27 AM
 
31 posts, read 94,979 times
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If you lived in the home on January 1st of the tax year in question, then you are eligible for this exemption. There is a form you fill out and sign found on the assessor's website.
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Old 07-28-2014, 12:54 PM
 
Location: broke leftist craphole Illizuela
10,326 posts, read 17,427,673 times
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ditto for the senior exemption. It saved my mother $200 off a $7500 bill.
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Old 07-28-2014, 12:59 PM
 
11,975 posts, read 31,789,833 times
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It seems to me like these programs were designed in a time of lower property tax bills. Unfortunately, I don't see this getting fixed any time soon.
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Old 07-28-2014, 03:27 PM
 
38 posts, read 108,834 times
Reputation: 22
Ok, thanks for the replies!
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