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ATTENTION METRO CHICAGO HOMEOWNERS
All Illinois homeowners should also be sure that they are participating
in any special tax programs that they qualify for.
Some of the special tax programs are:
General Homestead Exemption, available to all homeowners who actually occupy their house or condominium. It automatically
renews every year.
Senior Citizen Exemption,
available to all homeowners age 65 and over. During tax year 2010, seniors have to apply to receive the property tax exemption.
Tax Freeze, available
to senior citizens with a household income of less
than $55,000.00. A separate application must be filed
every year.
Home Improvement Exemption
The Home Improvement Exemption allows you to increase the value of your home with up to $75,000 worth of improvements without increasing your property taxes for at least four years.
Returning Veterans' Exemption
Veterans can receive a $5000.00 reduction in the equalized assessed valuation of their property in the year they return from active duty in an armed conflict.
Disabled Veterans' Homeowners Exemption
Veterans with a service connected disability as certified by the U.S. Department of Veteran Affairs are eligible for this annual exemption.
John P. Fitzgerald
Attorney at Law
February 2, 2012
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