Retirees and other older homeowners on fixed incomes may reduce their tax bill by taking advantage of the Senior Citizen Assessment Freeze Exemption.
Exemptions reduce the Equalized Assessed Value (EAV) of your home, which is multiplied by the tax rate to determine your tax bill. The senior freeze exemption works this way:
Eligible senior citizens automatically receive a reduction of at least $2,000 in the EAV of their homes.
Over time, this program may result in taxes changing minimally or sometimes decreasing as surrounding properties continue to rise in assessed value.
To apply for the senior freeze exemption, the applicant must:
Be a senior citizen with an annual household income of $65,000 or less.
Have owned and occupied the home on January 1, 2019 and January 1, 2020 and have been responsible for the 2019 and 2020 taxes to be eligible for Tax Year 2020 (payable in 2021).
118 North Clark Street, Room 320
Chicago, IL 60602
If you recieved the Senior Citizen Assessment Freeze 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 Senior Citizen Assessment Freeze Exemption, you must re-apply every year.
Seniors can save even more by combining the Senior Citizen and Homeowner exemptions.
Exemptions are reflected on the Second Installment tax bill. To check the exemptions you are receiving, go to Your Property Tax Overview.