It’s time for senior citizen homeowners to apply for their senior and senior freeze property tax exemptions. The deadline is Feb. 8.
Cook County Assessor Joseph Berrios said his staff has mailed the renewal applications for tax year 2016. Savings from these exemptions will appear as deductions on the 2017 second installment property tax bills to be mailed this summer.
Nearly 300,000 applications were mailed to seniors who received the exemptions last year.
Berrios stressed that it is imperative seniors return their applications in order to receive the exemption savings on their tax bills.
The senior exemption application is part of a booklet sent to eligible seniors.
The booklet also contains the separate, income-based senior freeze exemption application. The exemption freezes the assessed value of property belonging to qualified seniors.
“Seniors must remember that, under Illinois law, they must reapply annually for both the senior and senior freeze exemptions in order to continue to receive the deductions on their second installment tax bills,” Berrios said.
To qualify for the senior citizen exemption for tax year 2016, the property owner must have:
―Been born prior to or in the year 1951
―Owned the property during 2016 or have a lease or contract for 2016 which makes them responsible for the real estate taxes
―Used the property as a principal place of residence in 2016
To qualify for the senior freeze exemption for tax year 2016, taxpayers must have:
―Been born prior to or in the year 1951
―Total household income of $55,000 or less for income tax year2015
―Owned the property or had a legal, equitable or leasehold interest in the property on Jan. 1, 2015 and Jan. 1, 2016
―Used the property as a principal place of residence as of Jan. 1, 2015 and Jan. 1, 2016
―Been liable for the payment of 2015 and 2016 property taxes
“If you don’t qualify for the senior freeze exemption because you exceed the income level, this does not mean you will not be eligible for the senior exemption,” Berrios explained. “The senior exemption has no income restrictions.”
Seniors receiving the senior citizen exemption automatically receive the homeowner exemption. Seniors receiving the senior freeze exemption automatically receive both the homeowner and senior citizen exemptions.
Eligible seniors who have never applied for the senior and/or senior freeze exemptions in the past may visit the assessor’s web site at www.cookcountyassessor.com and download an application or contact the assessor’s office at 312-443-7550 and request a form be mailed to them.
Applications for the homeowner exemption are also available online. Applications for additional exemptions administered by the assessor’s office will be available in the next few weeks.