Returning Veterans Exemption

Returning Veterans Exemptions

Benefit:

This exemption lowers the equalized assessed value of the veterans principal residence by $5,000 for two consecutive assessment (tax) years. This would include the tax year and the following year that the veteran returns from active duty in an armed conflict involving the armed forces of the United States.

To Qualify:

To qualify, applicants must:

• Be an Illinois resident who served as a member of the U.S. Armed Forces, Illinois National Guard, or U.S. Reserve Forces,
• Have returned from active duty in an armed conflict involving the armed forces of the U.S.,
• Own or have a legal or equitable interest in the land on which a single-family residence is situated and used as applicant’s principal place of residence on January 1 of the assessment years, and
• Be liable for the property tax payments

To Apply:

Applications are initiated at the local township office or the Chief County Assessment Office.

35 ILCS 200/15-167

Properties Held in Trust

When you are applying for a new exemption and the property is held in trust, we must verify that the applicant is a beneficiary of that trust. The exemptions cannot be applied without this verification. Please include a copy of that part of the actual trust agreement which states that the applicant is a beneficiary. This can usually be found on the first few pages of the trust document. Should you have any questions, please feel free to contact us directly at 847-381-1120.