Question: How can I avoid paying property taxes in Illinois?

How can I lower my property taxes in Illinois?

You can get your property taxes lowered by proving that your house is worth less than the assessor says it is. To do this, you have to appeal to your local board of review. You can find contact information for your local board of review on the Illinois Property Tax Appeal Board website.

What properties are exempt from paying property taxes in Illinois?

For the law itself, see Illinois’s Property Tax Code at 35 ILCS Section 200.

  • Primary residence. You may qualify for a homeowner exemption if the house in question is your primary residence. …
  • Senior citizens. …
  • Disabled persons. …
  • Home improvements. …
  • Disabled veterans. …
  • Returning veterans. …
  • Natural disasters.

What is the homeowners exemption in Illinois?

Exemptions reduce the Equalized Assessed Value (EAV) of your home, which is multiplied by the tax rate to determine your tax bill. Homeowner Exemption reduces the EAV of your home by $10,000 starting in Tax Year 2017 (payable in 2018).

Who qualifies for the Illinois property tax Credit?

You will qualify for the property tax credit if: your principal residence during the year preceding the tax year at issue was in Illinois, and. you owned the residence, and. you paid property tax on your principal residence (excluding any applicable exemptions, late fees, and other charges).

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Is there a senior discount on property taxes in Illinois?

Seniors can save, on average, up to $300 a year in property taxes, and up to $750 when combined with the Homeowner 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.

Why is Illinois property tax so high?

The city’s eight pension funds have accumulated nearly $45 billion in debt, more debt than 44 U.S. states. Local governments across Illinois have pension debt worth $63 billion that causes property taxes to rise each year.

Where are the lowest property taxes in Illinois?

The tax rate in Illinois is 2.16%, but here are some areas that have a slightly lower tax rate than the state average:

  • Alexander County.
  • Crawford County.
  • Gallatin County.
  • Hardin County.
  • Jasper County.
  • Perry County.
  • Pulaski County.
  • Macoupin County.

What is the senior exemption in Illinois?

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 2020.

Do you have to apply for homeowners exemption every year Cook County?

Do I have to apply every year? No. Once you apply, the Homeowner Exemption will renew automatically in subsequent years as long as your residency remains the same.