The Township Assessor
The Township Assessor might more accurately be called an appraiser. The Assessor does not levy a tax, but rather places a value on (assesses) all property for tax purposes, appraising it at its fair market value.
The County Clerk compiles a list of all lands and lots to be assessed. These lists are conveyed to the Township Assessors through the Chief County Assessment Office.
The Assessor must then determine the market value of all taxable property and assess the property at one-third of its market value. Township assessors use the same principles, techniques and methodologies as those employed by fee appraisers with only slight variations to accommodate the uniformity criteria of the statutes. The ultimate purpose of the assessed value is to proportion the tax burden, as established by the taxing bodies, over all property in a fair and equitable manner based on the value of real estate.
Under Illinois law, several programs designed to provide property tax relief are available to homeowners. We have prepared this guide to familiarize you with these programs, and to answer the most frequently asked questions.
As you will learn, eligibility requirements vary widely among these programs, and you should review each program's qualifications carefully.
The staff in the Township Assessor's office will be happy to provide additional information; please contact them if you have questions about these programs.
The Illinois Homestead Exemption Program
What is the Illinois Homestead Exemption Program, and who qualifies?
Through four 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 and it must be used as your principal residence to qualify for any of these exemptions.
Homestead Limited Exemption
This exemption lowers the equalized assessed value of your property b $3,500. To receive this exemption, you must:
- Have lived on the property on or before January 1 of the tax year; otherwise, the value may be prorated for the portion of the year that it was owner-occupied.
- Have the exemption initiated by the Township Assessor's office.
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 $15,000 of assessed value may be deferred under this program (effective January 1, 1998).
- The Township Assessor's office initiates this exemption.
- The property has to be the taxpayer's principal residence.
Senior Homestead Exemption
This exemption lowers the equalized assessed value of your property by $2,000 , and 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 1 of the tax year.
- Have reached the age of 65 during the tax year.
- Apply for the exemption at the Township Assessor's office. You will need to bring a copy of the deed to the property and proof of age with you when you apply.
- This exemption must be renewed annually.
Senior Citizens Tax Freeze Homestead Exemption
This exemption freezes the assessment on your property, but does not freeze the tax rate. This exemption may be claimed in addition to those described above. You need to understand that the actual taxes which you pay may continue to increase based upon the amounts levied by the taxing bodies where you reside (school districts, park districts, village or city, township, etc.).
The filing deadlines for this exemption is September 15 of each year. Forms will be mailed to all individuals who have a senior homestead exemption in mid-summer. 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 $40,000. This household income includes that of all persons using the property as their principal dwelling place on January 1 of the tax year.
- Please note that this exemption must be renewed annually. The Chief County Assessment office mails applications to all taxpayers receiving the Senior Homestead Exemption.
- First-time applicants can obtain forms from the Chief County Assessment Office or your local township assessor's office.
- Your completed application must be notarized and returned to:
Chief County Assessment Office
7th Floor
18 N. County Street
Waukegan, Illinois 60085-4335
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Senior Citizens Real Estate Tax Deferral Program
What is the Senior Citizens Tax Deferral Program and who qualifies?
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 rate of six percent. Each January, the Chief County Assessment Office mails an informational postcard to all taxpayers receiving a senior homestead exemption informing them of the program and its deadlines.
To qualify for this deferral, you must:
- Own the property, which must be used exclusively as a residence. Please note that joint ownership under this program is limited to you and your spouse.
- Have lived on this or another qualifying property for at least three years, except for periods in which you may have resided temporarily in a nursing or sheltered-care home.
- Be age 65 or older by June 1 of the current year.
- Have a maximum household income of $40,000
- Owe no delinquent taxes on the property
- Note: The filing deadline for the program is March 1 of the current year.
How much may be deferred?
Eligible residents may defer part of all of their property taxes for each year in which they qualify. The maximum which may be deferred (including interest and fees) is 80 percent of the taxpayer's equity in the property.
When must deferred taxes be paid?
Property taxes which are deferred under this program become due when the residence is sold or upon the death of the taxpayer. The deferral may be continued by a surviving spouse who is at least age 55 within six months of the taxpayer's death.
How does one apply for the tax deferral program?
Application for the Senior Citizens Real Estate Tax Deferral Program must be made each year. The applications include:
- A request for information about the taxpayer, his or her income and the property for which the deferral is being sought.
- A request that any joint owners must agree to the deferral.
- Presentation of evidence of adequate insurance on the property.
- Completion of an agreement which sets out the conditions of the tax deferral, including the maximum amount which can be deferred, the interest rate to be charged, and arrangements for repaying the "loan."
- Assistance with filling out the forms and further processing of completed forms are available from:
Lake County Treasurer
18 N. County Street
Waukegan, Illinois 60085-4361
847-377-2323
Senior Citizens Circuit Breaker Grants
What is a Senior Citizens Circuit Breaker Grant and who qualifies?
This is a State of Illinois program providing low-income senior citizens with yearly grants. The amount of the grant is determined by a formula which takes into account your property taxes and/or rental payments and your total household income. To qualify for a "circuit breaker" grant, you must:
- Be age 65 or older before January 1 of the tax year. If you reach age 65 during the tax year, you may be eligible for a partial grant covering the months in which you qualify.
- Live in Illinois at the time you file for a grant.
- Have a maximum household income (effective 1/1/01) of:
- $21,218 for a one-person household,
- $28,480 for a two-person household,
- $35,740 for a three-person household.
- Obtain an application from the Illinois Department of Revenue, and complete and file it on or before December 31st of the tax year. Mail the completed forms to:
Circuit Breaker
Ilinois Department of Revenue
P.O. Box 19003
Springfield, IL 62794-9003
Phone: 800-624-2459
TDD: 800-554-5304
htpp://www.revenue.state.il.us
When are these grants paid?
If you file a qualifying claim early in the year, grants will be issued within three to four months. For claims filed after May 1, grants are generally issued within eight to 10 weeks.
If I die, will my spouse continue to receive the circuit breaker grant?
If your surviving spouse was age 63 or older before your death, he or she may continue to file for circuit breaker grants.
Disabled Veterans Exemption
What is a Disabled Veterans Exemption and who qualifies?
Under this program, up to $58,000 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. To qualify for this exemption, you must:
- Have served in the Armed Forces of the United States.
- Have a disability of such nature that the Federal Government has authorized payment for the purchase or construction of housing which has special adaptations to meet the needs of your disability.
How do I establish a Disabled Veterans Exemption?
You apply for this exemption through the Illinois Department of Veteran's Affairs. Once the exemption has been approved, the Chief County Assessment Office is notified by the Illinois Department of Revenue of the veterans eligible for this program. Please note that this exemption must be renewed each year.
You may obtain the required forms from the:
Veteran's Affairs Medical Center - North Chicago
Building 135 - Ground Floor
3001 Green Bay Road
North Chicago, IL 60064
Phone: 847-689-4153
Information taken from the Chief County Assessment Office Web Site
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