generally there are three exemptions

available to residential property owners

in illinois one’s known as a homeowner’s

exemption

one is a seniors exemption and the third

is the senior freeze exemption

so i’m gonna go in inverse order the

senior freeze exemption

applies to anyone that’s over the age of

65

that annually earns less than sixty five

thousand dollars and that’s an exemption

you have to plug you have to apply for

every year and you have to reapply for

it each year

and it’s not a significant amount of

money but still to seniors it makes a

difference

the senior exemption is something that

you get on top of a homeowner’s

exemption

so if you’re a senior and you are a

homeowner you can

elect to take a senior exemption and

once you elect the senior exemption

that’s something that reoccurs every

year without having to reapply

homeowners exemption

is an exemption that you get for having

a residence as your primary residence

and single family home

within the state of illinois and that’s

something you have to elect on your your

property tax

assessment once you elect

a homeowner’s exemption that’s something

that reoccurs every year so the

homeowner’s exemption probably saves the

average property taxpayer

six hundred to a thousand dollars per

year this is based on medium home values

in cook county illinois the average

senior exemption will add another

250 to 300 on top of that

and the senior freeze exemption

will add another

200

on top of that