Former members of the military with a service-connected disability that is certified by the U.S. Department of Veterans Affairs may be eligible for the Disabled Veterans Standard Homestead Exemption for their primary residence. This annual exemption reduces
the Equalized Assessed Value (EAV) of a disabled veteran’s home, likely lowering the total tax bill. Surviving spouses who have not remarried are also eligible.
Veterans with a certified disability of:
- 30-49% can qualify for a $2,500 EAV reduction.
- 50-69% can qualify for $5,000 EAV reduction.
- 70% or more now can qualify for a 100% tax exemption.
A new state law has eased the requirements for eligibility. Public Act 100-0869, which goes into effect for Tax Year 2018 (payable in 2019), says:
- Veterans now may apply for the exemption at any time of the year and the tax benefits will be prorated, starting with the first complete month in which the veteran lives in the home.
- Under the previous law, veterans were not eligible unless they occupied the home on January 1 of the Tax Year.
- Under the previous law, if disabled veterans receiving the exemption moved in the middle of the year, then they could not receive the exemption on their new home until they reapplied the next year.
118 North Clark Street, Room 320
Chicago, IL 60602
If you received the Disabled Veteran Exemption in Tax Year 2019 (payable in 2020), you do not need to re-apply for Tax Year 2020 (payable in 2021). This automatic renewal applies only to Tax Year 2020.
Ordinarily, once you have received the Disabled Veteran Exemption, you must re-apply every year.
Exemptions are reflected on the Second Installment tax bill. To check the exemptions you are receiving, go to Your Property Tax Overview.