General Homestead Exemption
- Requires an initial application, rentals need annual renewal.
- Requires January 1st ownership & occupancy.
- Based on the increase above the 1977 EAV up to $6,000, whichever is less.
- Amounts to approximate savings of up to $735 in Rockford for 2021 taxes, payable in 2022.
- Can be granted to single family rentals if the tenant is liable for the taxes.
- General Homestead Exemption Form
- 2024 Rental/Owner Occupancy Exemption Form
Senior Citizen Homestead Exemption
- Application may be made any time in the year owner turns 65 years old
- Requires ownership & occupancy.
- Reduces the taxable value by $5,000.
- Amounts to approximate savings of $613 in Rockford for 2021 taxes, payable in 2022.
- Automatically renews provided senior still owns and occupies residence.
- Senior Citizen Homestead Exemption Form
Low-Income Senior Citizen Assessment Freeze Homestead Exemption
Homestead Improvement Exemption
- Single-Family owner-occupied homes only.
- 4-year exemption of an increase in assessment due to a new improvement to an existing home. Township Assessors report eligible amounts.
- Exempts up to $25,000 in EAV increase.
Homestead Exemption for Persons with Disabilities
Standard Homestead Exemption for Veterans with Disabilities
- Disability must be a result of armed service.
- Initial application requires proof and percentage of disability. (i.e., award letter from VA and DD 214 form).
- Annual renewals are sent to properties currently receiving exemption.
- If a veteran has 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 Veterans Affairs , annual renewal is not required.
- Owner occupied homes only.
- If disability level is from 30% to 49% the reduction is $2,500 EAV.
- If disability level is from 50% to 69% the reduction is $5,000 EAV.
- If disability level is from 70% to 100% the property is exempt from property taxes.
- Can be granted to "un-remarried surviving spouses."
- Standard Homestead Exemption for Veterans with Disabilities Form (PTAX 342)
- Standard Homestead Exemption for Veterans with Disabilities (RENEWAL) Form (PTAX 342-R)
Returning Veterans' Homestead Exemption
- A 2 year, $5,000 per year, EAV reduction for the first and second year the veteran or spouse owned the home after the veteran returns from active duty in an armed conflict.
- Returning Veterans' Homestead Exemption Form(PTAX 341)
Veterans with Disabilities Exemption for Specially Adapted Housing
- Applies to housing specially adapted for the veteran's disability.
- Eligibility is certified annually by the Illinois Department of Veterans Affairs.
- Adaptation needs to have been paid for with Federal funds.
- Can be granted to "unmarried surviving spouses."
- Exempts up to $100,000 EAV.
Non-homestead Exemptions for Religious, Charitable, or Educational Organizations
- Properties of religious, charitable, educational organizations, and units of federal, state & local governments are eligible for exemption from property taxes to the extent provided by law
- The Board of Review reviews the application and forwards it to the Illinois Department of Revenue for the final administrative decision
