Looking to save $$ on property tax? Start here

Hurry, Cook County tax bills are due March 1

"'Tis impossible to be sure of anything but death and taxes." Christopher Bullock's infamous quote still rings true, some 300 years later.

Cook County's 2017 First Installment property tax bills are due March 1st. Surrounding counties will be due soon enough too. Thankfully, while none of us can avoid death, there are a few ways to save money on property taxes...which might make living a little sweeter.

Start by checking out  all the property-tax exemptions currently available for Cook County homeowners.* 

Scroll below to find links and generally helpful tips and information.

• Homeowner Exemption 
• Senior Citizen Exemption 
• Senior Freeze Exemption 
• Longtime Homeowner Exemption 
• Home Improvement Exemption 
• Returning Veterans Exemption 
• Disabled Veterans Homeowner Exemption 
• Disabled Persons Homeowner Exemption 
• Natural Disaster Homestead Exemption

If you know you are eligible for one of these, click on over to the Cook County Assessor's exemption page to apply. If you'd like to learn a little more first...read on, my friends.

Were you eligible, but didn't apply for an exemption in the past? No worries, simply contact us. We can help you file Certificates of Error (refund applications).

*I'm talking about 2017 property tax bills, due and payable in 2018. Eligibility is determined as of January 1st, 2017. If you closed on property in 2017, you may check the former owner’s status, but you will not be eligible to claim exemptions for yourself.

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Homeowner Exemption

You are eligible if:

• You or the previous owner used the property as a principal residence. 
• You were responsible for the real estate taxes. 

If you’ve never received this exemption before, you’ll need to apply for it. If the county gave the exemption last year, it almost always renews automatically.

>> Click here to print out the application for Homeowner Exemption

Tip 1: Tenants responsible to pay property taxes as a part of their lease agreements are eligible for the exemption.

Tip 2: If you transferred ownership of the property in any way (from yourself to a trust you created, from your trust to yourself, or to add or remove a co-owner) the County can – and will – drop the exemption. You must re-apply.

Tip 3: You can only claim one primary residence. If you buy a new home but keep the old one, you are supposed to file an exemption waiver on the one you don’t live in.

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Senior Citizen Exemption

Apply by March 2, 2018!

You are eligible if you:

• Were born on or before December 31, 1952. 
• Use the home as your primary residence or are responsible for tax payments. 

Tip 1: This exemption only applies to that portion of the year that a senior actually lived in the home. If the senior sold mid-year, the exemption is supposed to be pro-rated.

Tip 2: This exemption is available to the (eligible) surviving senior even if the property is owned in the name a deceased spouse.

Tip 3: This exemption must be applied for every year.

>> Click here to print out the application for Senior Freeze Exemption

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Senior Freeze Exemption

Apply by March 2, 2018!

The Senior Freeze further reduces property taxes by “locking in” a property’s “equalized assessed valuation” to mitigate against tax bills that increase due to neighborhood price appreciation. The intent here is to help our elderly afford to stay in their homes when neighborhood values are rising.

You are eligible if you:

• Were born in 1952 or earlier 
• Had a total household income of $65,000 (Cook County) or $55,000 (all others) or less in 2016.
• Owned and used the property as your principle residence on January 1, 2016 and January 1, 2017.
• Were responsible for the payment of 2016 and 2017 property taxes. 

>> Click here to print out the application for Senior Freeze Exemption

Tip 1: There are several other programs available to help seniors manage the burdens of property taxes, including tax deferral programs. Contact the County Assessor for more info.

Tip 2: The income limit will increase to $65,000 for all Illinois counties, next year.

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Longtime Homeowner Exemption 

You are eligible if you:

• Owned and occupied your residence for all of 2016. 
• Had a total household income of $100,000 or less.
• Experienced an assessment increase for your property that was significant enough to exceed the maximum amounts set by state law. 

The assessor sends applications to all properties that qualify for this exemption. Call the Cook County Assessor’s office at 312-443-7550 if you didn’t get an application and think you are eligible.

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Home Improvement Exemption

Did you do any major home improvements this year? You can lock your property taxes for at least four years if you made up to $75,000 worth of qualifying improvements (that you pulled permits for).

Qualifying improvements are generally structural in nature, as opposed to normal/routine maintenance or repairs of “normal” weather damage.

If you think you qualify for the Home Improvement Exemption and didn’t get an application, call the Cook County Assessor's Office at 312-443-7550.

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Returning Veterans Exemption

Veterans returning from active duty in armed conflict are eligible to receive a $5,000 reduction for each taxable year in which they return.

You qualify for this exemption if you: 

• Are an Illinois resident who served in the U.S. Armed Forces, Illinois National Guard or U.S. Reserve Forces. 
• Returned from active duty in an armed conflict involving our armed forces. Owned or used the property as your principal residence on January 1, 2016. 
• Are responsible for payment of the property taxes. 

>> Click here to print out the application for Returning Veterans Exemption

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Disabled Veterans Homeowner Exemption 

This one is a little complicated. Veterans with a service-connected disability are eligible for tax reductions, based on the percentage of disability as certified by the VA. 

This exemption reduces the Equalized Assessed Value (not the amount of the taxes) of a disabled veteran’s primary residence by $2,500 or $5,000, which should lower the tax bill. If the disability is 70% or more, the veteran is allowed a (well deserved) total exemption.

This chart from the assessor’s site should help:

>> Click here to print out the application for Disabled Veterans Homeowner Exemption

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Disabled Persons Homeowner Exemption 

You qualify for this exemption if you: 

• Are disabled or became disabled during the tax year (2017)
• Owned or leased the property; occupied it as a principal residence on January 1, 2016. 
• Are responsible for tax payments. 

Tip: A disabled person may still qualify for this exemption even if they now reside in a facility licensed under the Nursing Home Care Act, provided they (a) qualified previously and (b) the property is still occupied by your spouse, or the property remains unoccupied. 

>> Click here to apply for the Disabled Persons Homeowner Exemption

Or, to learn more, visit the Cook County Assessor’s website and click on >Disabled Persons Exemption.

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Natural Disaster Homestead Exemption

Hopefully, none of us will ever need this one. If your home is rebuilt after a widespread natural disaster, you may be eligible to reduce your property’s assessed equalized value by the difference between what it was worth when you apply (the value of the rebuilt home) less its EAV for the year prior to its destruction. 

This exemption must be applied for every year, but will remain in place until the property is sold or transferred. Call the Cook County Assessor’s office at 312-443-7550 to get more information and to apply. 

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I hope this information is helpful. To learn more about exemptions, find your PIN, and apply, click over to the Cook County Assessor’s website. Or call them at 312-443-7550 they can help you determine which exemption(s) will get you the most savings. 

Is there an exemption you qualified for but didn’t claim? If you were eligible for exemptions in years past—but did not claim them—contact us. We are happy to help you file Certificates of Error to recoup the money you deserve.

Additional links:

Cook County Treasurer 

Cook County Exemption History Search