One common mistake that we see homeowners make is failing to take advantage of the “Homeowner Exemption” on their annual real estate taxes.
Like any real property, a home is subject to annual real estate taxes that are assessed and collected by local governmental authorities. Homeowner exemptions can reduce annual real estate taxes by hundreds or even thousands of dollars depending on the property and where it is located.
In Cook County, exemptions are reflected on the Second Installment tax bill, which typically arrives in late summer each year. Not sure if you are receiving a homeowner exemption? Keep reading.
If you own and occupy a home in Cook County, Illinois as your principal place of residence, consider taking these short action steps before March 31, 2021, which is the Cook County deadline to apply for a homeowner exemption for 2020 real estate taxes:
Homeowners who meet other qualifications may be eligible for additional exemptions (e.g., senior exemption, senior income-related freeze, disability, veterans with a service-connected disability): https://www.cookcountyassessor.com/exemptions
If you miss the deadline or if you believe you were entitled to the homeowner exemption in past years, you may be able to file a “certificate of error”: https://www.cookcountyassessor.com/certificates-error
Real estate taxes are assessed and collected differently depending on the county where a home is located.
For example, the Lake County Assessment Office’s website states that the general homestead exemption “is initiated at the local township assessor’s office.” Source: https://www.lakecountyil.gov/436/General-Homestead-Exemption
As another example, the DuPage County Supervisor of Assessments’ website states that “in most cases, the Township Assessor will automatically grant the exemption on behalf of the taxpayer without requiring a formal application.” Source: https://www.dupageco.org/SOA/1508/
If you own a home in a county other than Cook County, start by looking at your most recent real estate tax bill. It may be possible to lookup a tax bill and homeowner’s exemption online by searching for your local governmental authorities. Here is a suggested search:
[YOUR COUNTY NAME] county real estate tax bill
Tip: Replace [YOUR COUNTY NAME] with the name of the county where your home is located, e.g., “Kane County real estate tax bill,” if your home is in Kane County.
This article is intended as general information about laws, not as legal advice to you. Claiming or receiving an erroneous exemption could result in civil and criminal investigation and penalties. If you have questions about your situation, you should contact a lawyer.
If you want help with real estate tax exemptions or appealing your real estate tax assessment, contact Ross Law Firm Ltd. today! We will be happy to suggest names of real estate tax lawyers who may be able to help you.
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