Cook County retirees and other older homeowners may reduce their tax bills by hundreds or even thousands of dollars a year by taking advantage of the Senior Citizen Homestead Exemption.
Exemptions reduce the Equalized Assessed Value (EAV) of your home, which is multiplied by the tax rate to determine your tax bill. The Senior Citizen Homestead Exemption reduces the EAV of your home by $8,000.
To receive the Senior Citizen Homestead Exemption, the applicant must have owned and occupied the property as of January 1 and must have been 65 years of age or older during the tax year in question.
To apply:
118 North Clark Street, Room 320
Chicago, IL 60602
312.443.7550
The Assessor's Office now automatically renews Senior Citizen Exemptions for properties that were not sold to new owners in the last year.
Seniors can save even more by combining the Senior Citizen and Homeowner exemptions.
Exemptions are reflected on the Second Installment tax bill. To check the exemptions you are receiving, go to Your Property Tax Overview.