Former members of the military with a service-connected disability that is certified by the U.S. Department of Veterans Affairs may be eligible for the Disabled Veterans Standard Homestead Exemption for their primary residence. This annual exemption reduces the Equalized Assessed Value (EAV) of a disabled veteran’s home, likely lowering the total tax bill. Surviving spouses who have not remarried are also eligible.

Veterans with a certified disability of:

• 30-49% can qualify for a $2,500 EAV reduction.
• 50-69% can qualify for $5,000 EAV reduction.
• 70% or more now can qualify for a 100% tax exemption.

A new state law has eased the requirements for eligibility. Public Act 100-0869, which goes into effect for Tax Year 2018 (payable in 2019), says:

• Veterans now may apply for the exemption at any time of the year and the tax benefits will be prorated, starting with the first complete month in which the veteran lives in the home.
• Under the previous law, veterans were not eligible unless they occupied the home on January 1 of the Tax Year.
• Under the previous law, if disabled veterans receiving the exemption moved in the middle of the year, then they could not receive the exemption on their new home until they reapplied the next year.

Veterans can apply for the exemption by contacting the Cook County Assessor’s Office. If you receive the exemption, you must reapply every year. For more information, please visit www.cookcountyassessor.com.