Exemptions reduce the Equalized Assessed Value (EAV) by a specific amount; the actual tax savings depends on the tax rate for the specific property.

General Homestead Exemption
The General Homestead Exemption reduces the EAV of an owner-occupied dwelling by $5,000.

Homestead Improvement Exemption
The Homestead Improvement Exemption reduces the EAV of an owner-occupied dwelling with qualifying addition by up to $25,000.

Senior Citizen Homestead Exemption
The Senior Citizen Homestead Exemption reduces the EAV of a senior-owned-and-occupied dwelling by $3,500.

Senior Citizen Assessment Freeze Exemption
The Senior Citizen Assessment Freeze Exemption freezes the EAV of senior-owned-and-occupied dwelling at a base year, causing the assessment not to increase; this is restricted to households with qualifying incomes of $50,000 or less.

Disabled Veterans Exemption
The Disabled Veterans Exemption reduces the EAV of a home owned by a qualifying veteran, the veteran’s spouse or unmarried surviving spouse by up to $70,000. You must apply for this exemption through the Illinois Department of Veterans’ Affairs.