Homeowners can make up to $75,000 worth of property improvements without an increase in property taxes for at least four years. The value varies depending on the reduction of the assessed value and the tax rates where the property is located. 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 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.