Exemptions

MOST COMMON PROPERTY TAX EXEMPTIONS

 What are “Exemptions” and am I getting all the exemptions that I am entitled to?

Exemptions are a value deducted from your Assessment before the tax rate is applied when calculating your property tax.  EXEMPTIONS SAVE YOU TAX DOLLARS.  The following are the most common exemptions available:

    • Annual Homestead Exemption – Also known as the Owner Occupied Exemption this exemption is available to those who own and live in their property as their primary residence.  You are only entitled to one Annual Homestead Exemption regardless of the number of homes you own.
    • Senior Citizen’s Homestead Exemption – This is an additional exemption available to those who are 65 years old and qualify for the Annual Homestead Exemption.
    • Senior Citizen’s Homestead Assessment Freeze Exemption – This is an additional exemption for those who qualify for the Annual Homestead Exemption and the Senior Homestead Exemption.  Additionally, you must have lived in your home for two consecutive January 1st’s and do not exceed a total household income level of $55,000 (subject to change).
    • Home Improvement Exemption – This is an exemption granted by the Township Assessor for improvements made to your home that increase the assessed value of your property.  Currently, the Home Improvement Exemption maximum amount is $25,000 and may be given for up to 4 years.  Improvements made to your home/property and maintenance done to your home/property differ.  Contact your Assessor if you have any questions
    • Disabled Person’s Homestead Exemption – This is an exemption offered to individuals with disabilities recognized by the Social Security Administration, the State of Illinois and/or your doctor.  You must qualify for the Annual Homestead Exemption and have lived in your home since January 1st of the year you are applying for.
    • Disabled Veteran’s Homestead Exemption – If you are a Disabled Veteran, you may qualify for an additional exemption.  Contact your Assessor with questions pertaining to this exemption.
    • There may be other exemptions available.  Contact the McHenry County Assessment Office at 815-334-4290 or go to the Assessment Department at www.co.mchenry.il.us .