Illinois Disabled Veterans Standard Homestead Property Tax Exemption
This exemption is available to disabled veterans whose primary residence is in Illinois. Application for the exemption is made to the township or county assessor's office where the property is located. You can find specific application dates for your county by contacting your county or township assessor's office.
Qualifying for the Exemption
This exemption is available to Illinois residents who have been on active duty and honorably discharged with a service related disability from any of the following:
- Armed Forces of the United States of America
- Member of the Illinois National Guard
- Member of the United States Reserve Forces
The property must be the veterans principal residence. The service related disability must be at least 50% as determined by the Department of Veterans Affairs. Application must be made during the period in effect in the county the home is located in. Contact your assessors office for details
Surviving Spouses and the Disabled Veterans Homestead Exemption
Surviving Spouses are also eligible for the exemption as long as they meet all of these conditions:
- The spouse remains un-married
- The home is their principal residence
- They have legal or beneficial title to the property
If the spouse sells the property and otherwise meets the above conditions the property tax exemption can be transferred to the new home.
The Veterans Homestead Exemption and Other Property Tax Exemptions
A person can only take one of the following exemptions:
- The Standard Disabled Veterans Homestead Exemption
- The Disabled Persons Homestead Exemption
- The Veterans Homestead Exemption (A much larger version of the Veterans Exemption than the Standard Exemption).
Any of the above prevents a person from taking any of the others in this list. However, this exemption is usually used in addition to the General Homestead Property Tax Exemption or one of the alternatives to the former in Cook County provided the applicant qualifies for them. Other exemptions such as the Senior Exemptions can also be used in addition as well.
Cash Value of the Exemption
The value of the exemption varies with the level of disability as certified by the Department of Veterans Affairs:
- If the Disability is at least 50% and less than 75% then the exemption amount is 2500 dollars in assessed value
- If the disability is 75% or more the exemption amount is 5000 dollars in assessed value
Example Calculations of the Disabled Veterans Homestead Property Tax Exemption
Below you will find a couple of examples of how to calculate an estimate of the actual cash savings the Disabled Veterans Standard Homestead Property Tax Exemption provides.
Example One: Basic Calculation of the Disabled Veterans Standard Homestead Exemption
You are eligible for the 2500 Dollar exemption and the tax rate where your home is located is 7.2 percent
2500 x 7.2% =180
180 Dollars is the actual cash savings in property taxes that the exemption provides to you.
Example Two: Basic Calculation of the Disabled Veterans Standard Homestead Exemption
You are eligible for the full 5000 Dollar exemption and the tax rate where your home is located is 7.2 percent
5000 x 7.2% =360
360 Dollars is the actual cash savings in property taxes that the exemption provides to you.
The full text of the section of the Illinois Property Tax Code that addresses this exemption can be found here:
Illinois Disabled Veteran's Standard Homestead Property Tax Exemption