35 ILCS 200/15-165
Qualifications:
- The applicant must be a disabled veteran (or surviving un-remarried spouse) who has served in the Armed Forces of the United States and who has acquired, in connection with that service, a disability of such a nature that the Federal Government has authorized payment for purchase or construction of specially adapted housing as set forth in the U.S. Code Title 38, Chapter 21.
- The applicant's home must be owner-occupied by the disabled veteran, the disabled veteran's spouse, or the surviving un-remarried spouse of the disabled veteran as of January 1st of eligibility year.
Application Process:
- Upon notification by the Illinois Department of Veterans Affairs of eligibility, the exemption will be automatically processed on behalf of eligible individual.
Renewal Process:
- The exemption renewal is initiated when the Illinois Department of Veterans Affairs notifies the Supervisor of Assessments of eligibility and does not require any action by the recipient.
Benefit:
- The Disabled Veteran's Exemption provides an annual deduction of up to $100,000 off of the taxable assessed valuation for the home.
- Typical tax savings for those receiving the maximum assessment reductions can be as much as $4,000, depending upon the local tax rates and the amount of the exemption.
