On Aug. 1, the Cook County Assessor’s Office announced that more than 50,000 senior homeowners in Cook County have not reapplied for property tax savings they are entitled to receive.
Exemptions contribute to lowering a homeowner’s property tax bill. Automatic renewals related to COVID-19 ended this year. Senior homeowners need to resume annual filings for the Low-Income Senior Citizens Assessment Freeze, previously named Senior Freeze.
Senior homeowners are eligible for this exemption if they are over 65 years of age and have a total household annual income of $65,000 or less. A “Senior Freeze” Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property. The exemption does not automatically freeze the amount of their tax bill, but the EAV remains at the fixed amount, which keeps their assessment lower than it might be otherwise.
Homeowners need to reapply by Friday, Aug. 4, and can now do so online by visiting, www.cookcountyassessor.com/exemptions. Applying online is easy, free, and can be done in under ten minutes. Application forms can be downloaded in English, Spanish, Polish, and simplified Chinese languages.
“By applying for these savings, seniors can significantly reduce their tax burden, allowing them to keep more of their hard-earned money for essential expenses or to enhance their quality of life,” said Assessor Fritz Kaegi. “In addition, encouraging family members, caregivers, and neighbors to lend a helping hand in supporting seniors through the application process can make a significant difference. Together, we can ensure that no senior homeowner misses out on the benefits they are entitled to.”
If homeowners are unsure of their existing exemptions, they can check by reviewing their “Property Details” and review the Exemption History & Status section.