Standard Homestead Exemption for Veterans with Disabilities

Standard Homestead Exemption for Veterans with Disabilities (SHEVD)

Benefit:

This exemption provides a reduction in equalized assessed value (outlined below) of a primary residence occupied by a veteran with a disability, or the veteran’s surviving spouse. This exemption can be claimed in addition to the General Homestead Exemption and the Senior Homestead Exemption. However, it cannot be claimed in addition to the Disabled Veterans Exemption (specially adaptive housing) of $100,000, or the Homestead Exemption for Persons with Disabilities.

• A disabled veteran with a 70% or higher service-connected disability will be tax exempt.
• A disabled veteran with at least 50%, but less than 70% service-connected disability will receive a $5,000 reduction in the property’s EAV.
• A disabled veteran with at least 30%, but less than 50% service-connected disability will receive a $2,500 reduction in property’s EAV.
• Beginning in 2023 (payable in 2024)The Public Act 102-0895 includes an end to annual reapplications for SHEVD for veterans with a combined service-connected disability rating of 100% and is deemed to be permanently and totally disabled, as certified by the United States Department of Veteran Affairs.

To Qualify:

To qualify, applicants must:

• Be a Lake County, Illinois resident and have served in the United States Armed Forces, The Illinois National Guard, or U.S. Reserve Forces, and have received an honorable discharge.
• Have a total equalized assessed value (EAV) of less than $250,000.
• Have owned and occupied the property as the primary residence of the tax year.
• Supply documentation as required by the instructions on the back of the form.
• An un-remarried surviving spouse of a disabled veteran can continue to receive this exemption on his or her spouse’s homestead property or transfer the exemption to a new primary residence. To qualify, the surviving spouse must meet the following requirements:
  • Sell the disabled veteran’s previous homestead property before transferring this exemption to his or her new primary residence.
  • If the surviving spouse sells the property, an exemption not to exceed the amount granted from the most recent ad valorem tax roll may be transferred to his or her new residence as long as it is used as his or her primary residence and he or she does not remarry.

To Apply:

Applications can be filed with the Cuba Township Assessor’s Office or the Chief County Assessment Office.  An annual verification of eligibility must be filled out each year in order to continue to receive the exemption. The Chief County Assessment Office will mail this verification form each year to all applicants who received the exemption in the prior year.

35 ILCS 200/15-169

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.