You can reduce your taxes with these listed exemptions; most in Sun City should qualify for the General Homestead Exemption and Senior Citizen Homestead Exemption. If you live in the home you own and one of you are at least 65, check out the others. For assistance or advice on exemptions, contact the Kane County Assessment Office at 630-208-3818 or visit their website at www.co.kane.il.us/soa/exemptions.htm. You can contact the McHenry County Assessor’s Office at 815- 334-4290 or visit their website at www.co.mchenry.il.us/departments/assessments/Pages/FormsRules.apx.
General Homestead Exemption
The property must be occupied as the primary residence by the owner taxpayer. This reduces the EVA (equalized assessed value) by $6,000 before taxes are calculated and will automatically renew each year.
Senior Citizen Homestead Exemption
The property must be occupied as the primary residence by the owner taxpayer and be at least 65. This reduces the EVA by $4,000 before taxes are calculated and will automatically renew each year.
Senior Citizen Assessment Freeze Homestead Exemption
To qualify, at least one of the owners of your household must be 65 or older and you have household income no greater than $55,000. This exemption effectively freezes your assessment at a base year, causing your net assessment not to increase, and you must reapply each year.
Disabled Veteransā Standard Homestead Exemption
This exemption reduces the equalized assessed value by $5,000 for a veteran with at least a 75 percent service connected disability, or $2,500 of equalized assessed value for a veteran with at least 50 percent, but less than 75 percent service-connected disability. You must reapply each year.
Disabled Personsā Homestead Exemption
The property must be occupied as the primary residence by a disabled owner taxpayer. This exemption reduces the EVA (equalized assessed value) by $2,000 before taxes are calculated and you must reapply each year.
Home Improvement Exemption
This exemption reduces the EAV attributable to the improvement for four years based on the Fair Cash Value (up to $75,000) of the improvement. You need not file an application. Your Township Assessor will certify the amount to the County Assessment Office.
Senior Citizens Tax Deferral Program
Be 65 or older, have a total household income of $50,000 or less, and have lived on the property for at least three years. This program permits qualified senior citizens to defer their real estate taxes up to $5000 in property taxes; above that, the homeowner must pay. It is in the form of a loan from the state that must be repaid with an interest of 6 percent when the house is sold or the applicant passes on. Application must be filed by March 1, 2012. People needing assistance or advice may contact the Kane County Treasurer’s Office at 630-232-3565 or McHenry County Treasurer 815-334-4260.
— Steve Bytnar, Member of PTAG (Property Tax Action Group)
