Senior Citizen Assessment Freeze Exemption
Qualified senior citizens can apply for a freeze of the assessed value of their property. Over time, in many areas, this program results in taxes changing minimally and often decreasing as surrounding properties continue to rise in assessed value. This is the most valuable Homeowner Exemption program. The value increases over the years as it eliminates the impact of regular re-assessment increases that may occur every three years.
For Tax Year 2016 (payable in 2017), the applicant must have owned and occupied the home on January 1, 2015 and January 1, 2016 and have been responsible for the Tax Year 2015 and 2016 taxes. Any exemption that is granted will be reflected on the Second Installment tax bill.
This program is administered by the Cook County Assessor's Office and requires an annual application (due to income requirements that must be met each year) to:
Cook County Assessor's Office
118 North Clark Street, Room 320
Chicago, IL 60602
You may find more information on these and other exemption programs at www.cookcountyassessor.com