Retirees and other older homeowners on fixed incomes may reduce their tax bill by taking advantage of "Senior Freeze."
To qualify for the “Senior Freeze” exemption, the applicant must:
- Be at over 65 years old
- Have a total annual household income of $65,000 or less
- Have owned and occupied the home on January1 of the tax year in question
This exemption "freezes" the senior citizen's property's equalized assessed value (EAV) the year that the senior citizen qualifies for the exemption. The property's EAV does not increase so long as qualification for the exemption continues. The tax bill may still increase if tax rates increase or if improvements are added that increase the value of the property.
To apply:
118 North Clark Street, Room 320
Chicago, IL 60602
312.443.7550
Once you have received the “Senior Freeze” exemption you must re-apply every year.
Exemptions are reflected on the Second Installment tax bill. To check the exemptions you are receiving, go to Your Property Tax Overview.