Veterans’ Benefits

VETERANS’ BENEFITS

– Property Taxes –

Disabled Veterans Standard Homestead Exemption

The Disabled Veterans’ Standard Homestead Exemption provides a reduction in a property’s equalized assessed value (EAV) to a qualifying property owned by a veteran with a service-connected disability. Beginning in tax year 2015, a $2,500 homestead exemption is available to a veteran with a service-connected disability of at least 30% but less than 50%; a $5,000 homestead exemption is available to a veteran with a service connected disability of at least 50% but less than 70%; veterans with a service-connected disability of at least 70% are exempt from paying property taxes on their primary residence.  This exemption is available to the unmarried surviving spouse of a service connected veteran provided that the veteran was in receipt of the exemption prior to his/her death.  Additionally, beginning in tax year 2015 and thereafter, the unmarried surviving spouse of a service member killed in the line of duty is exempt from paying property taxes on the primary residence.  Once approved, qualifying veterans and surviving spouses must file an annual application by their counties’ deadlines to continue to receive this exemption. To apply for this exemption, please contact or visit your local County Assessor’s Office.

For more information, please visit the Illinois Department of Veterans’ Affairs website:

https://www.illinois.gov/veterans/benefits/Pages/real-estate.aspx