The Assessor’s Office administers property tax exemptions that may contribute to lowering your property tax bill. These exemptions reduce the equalized assessed value (EAV), or taxed value, of a home. Exemptions are listed on the second installment property tax bill which is mailed in the summer.
How can a homeowner see which exemptions were applied to their home last year? Check the Cook County Portal website, then review the Exemption History and Status section. To see a list of exemptions received in prior years, enter your address or PIN here.
If an exemption you were entitled to in a prior tax year was not applied to a second installment property tax bill in the past, you may be able to apply for a refund (read more about submitting aCertificate of Error).
Property Tax Saving Exemption Types Available in Cook County
For additional information for exemption eligibility, documentation will be required to apply for an exemption.
For FAQs and exemption application due dates; please click on the name of the exemptions below for additional information.
Homeowner Exemption: A Homeowner Exemption provides property tax savings by reducing the equalized assessed value of an eligible property. Most homeowners are eligible for this exemption if they own and occupy their property as their principal place of residence. Once the exemption is applied, the Assessor’s Office auto-renews it for you each year as long as a change in eligibility is not detected.
Longtime Homeowner Exemption:The Longtime Occupant Homeowner Exemption enables property owners to receive an expanded Homeowner Exemption with no maximum exemption amount. Of the 1.5 million residential properties in Cook County, fewer than two percent (2%) qualified for the Longtime Occupant Homeowner Exemption last year. This is due to the way the state legislature wrote the provision and the requirements they put in place in order to qualify. The Cook County Assessor’s Office automatically detects which properties qualify based on assessment increases. Simply put, would-be savings from the Longtime Occupant Homeowner Exemption would have to exceed the savings from the Standard Homeowner Exemption. This does not happen for more than 98% of residences in Cook County.
Home Improvement Exemption:The Home Improvement Exemption allows a homeowner to add improvements to their home that add to its value (for example, by increasing the building’s square footage, or repairing after structural flood damage) without being taxed on up to $75,000 of the added value for up to four years. No application is required. When the Cook County Assessor’s Office receives building permits, our staff conduct a field check of the improvement. After this is complete, if this property is deemed eligible for the exemption, we send a notice to the property owner and apply the exemption.
Senior Exemption: A Senior Exemption provides property tax savings by reducing the equalized assessed value of an eligible property. Most homeowners are eligible for this exemption if they meet the requirements for the Homeowner Exemption and were 65 years of age or older during calendar year of the property tax bill. Once this exemption is applied, the Assessor’s Office auto-renews it for you each year.
Senior Freeze Exemption: A Senior Freeze Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property. Most homeowners are eligible for this exemption if they meet the requirements for the Senior Exemption and have a total household annual income of $65,000 or less in calendar year 2019. Those who qualify and receive this exemption should be aware that this does not automatically freeze the amount of their tax bill. Only the EAV remains at the fixed amount. The amount of dollars that the taxing districts asks for (levy) may change and thus alter a tax bill.
Persons with Disabilities Exemption: A Person with Disabilities Exemption is for persons with disabilities and provides an annual $2,000 reduction in the equalized assessed value (EAV) of the property. This exemption usually requires annual renewal but will be auto-renewed in 2020 due to the COVID-19 pandemic.
Returning Veterans Exemption: A Returning Veterans Exemption is for veterans returning from active duty in armed conflict are eligible to receive a $5,000 reduction in the equalized assessed value of their property only for each taxable year in which they return. This exemption must be filed annually.
Veterans with Disabilities Exemption: This Homestead Exemption for Veterans with Disabilities is for veterans with a service-connected disability as certified by the U.S. Department of Veterans Affairs. The exemption reduces by certain amounts the Equalized Assessed Value (EAV) on the primary residence of a veteran with a disability, very likely lowering the tax bill. The amounts of those EAV deductions depend on the level of disability. Veterans 70% or more disabled receive an EAV reduction of $250,000, and because of this can be totally exempt from property taxes on their home.
To learn more about how the property tax system works, click here.
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