| For More Information on Each of the Exemptions Listed Below, Call the Kane County Supervisor of Assessments Office at 630-208-3818.
General
Homestead:
Also called the Residential Homestead Exemption. Homestead property includes property that is occupied
by the owners as
their principal dwelling place. The Residential Homestead Exemption exempts $6,000 of the equalized assessed value for the 2009 assessment year.
Homestead
Improvement Exemption: Limited to an
annual maximum of $25,000 of equalized assessed value when
the property is owner-occupied and used exclusively
for a residential purpose. When an increase
in assessed value is attributable solely to
a new improvement of an existing structure,
the amount of the exemption shall be limited
to the actual value added by the new improvement
up to an annual maximum of $25,000 and shall
continue for 4 years from the date the improvement
is completed and occupied.
Veterans
Exemption: The Veterans Exemption is granted
to a disabled veteran who has served
in the armed forces of the United States and who has
acquired in connection
with that service a disability of such 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. This exemption
covers the veteran's owner-occupied real property up to an equalized assessed value of $70,000.
The Veterans Exemption must be reestablished on an
annual
basis by certification from the Illinois Department
of Veterans' Affairs to the Supervisor of Assessments'
Office. Note that you will not be eligible if you are claiming exemption under the Disabled Persons Homestead Exemption or the Disabled Veterans Standard Homestead Exemption.
Disabled Veterans Standard Homestead Exemption: The Disabled Veterans Standard Homestead Exemption is granted to a disabled veteran (or the surviving unmarried spouse of a disabled veteran) who has served in the armed forces of the United States and who has acquired in connection with that service at least a 50% disability as certified by the U.S. Department of Veterans Affairs. The Disabled Veterans Standard Homestead Exemption Note exempts up to $5,000 off the equalized assessed value of the veteran's owner-occupied property. Note that you will not be eligible if you are claiming exemption under the Disabled Persons Homestead Exemption or the Veterans Exemption.
Returning Veterans Exemption: The Returning Veterans Exemption grants a one-year only $5,000 exemption off the equalized assessed value on the veteran's owner-occupied real property in the tax year that the veteran returns from active duty in an armed conflict involving the armed forces of the U.S.
Disabled Persons Homestead Exemption: Exempts $2,000 of the equalized assessed valuation on real property owned and occupied by a disabled person (i.e., a person certified as disabled by the State of Illinois or U.S. Government). Note that you will not be eligible if you are claiming exemption under the Disabled Veterans Standard Homestead Exemption or the Veterans Exemption.
Senior
Homestead Exemption: Homestead property
that is owned and occupied as the principal residence
by a person 65 years of age or older who is
liable for the real estate taxes on the property
and is owner of record or has a legal interest
in the property. You must file for this exemption.
Forms are available through the Kane County Supervisor of Assessments Office. This is
a $4,000 reduction off your equalized assessed valuation.
Senior
Citizen Assessment Freeze: To qualify for this exemption
you must:
- Be
65 years of age or older this taxable year
- Your gross income must be $55,000 or less for the prior years income
- Have
used the property as your principal place of residence
on January 1st of the taxable year and the previous
year
- Own
the property, or have legal or equitable interest
in the property and
- Be
liable for the payment of the property taxes for the
taxable year
This
exemption allows qualified senior citizens to elect
to freeze the equalized assessed value (EAV) on their
property, for the year the applicant first becomes eligible.
This does not freeze the amount of your tax bill. Only
the EAV remains at the fixed amount. The amount of dollars
that the taxing districts ask for (levy) and the tax
rate will determine the amount of your tax bill.
Other
Tax Savings Programs Available to Senior Citizens
Senior
Citizen Real Estate Tax Deferral:
 This is a
program, which allows qualified senior citizens to
defer
part or all of the property taxes on their personal
residence. It is a form of a loan with an added interest
rate, which is to be repaid after the liquidation of
the estate.
Circuit
Breaker: This state program
provides a yearly grant for relief from property
or mobile home
taxes as well as rent or nursing home charges that
qualifying seniors and disabled persons. The program
provides pharmaceutical
assistance, property tax relief and discounted
license vehicle
registration
fees for qualifying seniors. The level of annual
income for eligible seniors is based on:
- $22,217
for a one-person household
- $29,479
for a two-person household
- $36,739
for a household of three or more
In
this program, qualifying seniors will only pay an
annual
fee of $25.00 and a prescription fee of $3.00. Seniors
below the poverty line will only pay $5.00 annually.
Formerly the pharmaceutical assistance program applied
to a very few diseases, but with the new program
it has
been extended to all major medical conditions related
to aging such as Alzheimer's disease, cancer, Parkinson's
disease, glaucoma, lung diseases, smoking related illness,
heart disease and arthritis.
Tax
Bills & Collection: Taxes are paid in two installments
in Kane County, with the first due June 1st unless the
date is extended because of late billing. The second
installment is then due September 1st. The Kane County
Collector mails the tax bill to the taxpayers at least
30 days before the first installment is due. The tax
bill may be paid at the Collector's Office in Geneva
or any designated bank in Kane County. It is the taxpayers'
responsibility to keep their address current with the
Collector. If taxpayers do not receive a bill, they
should inquire with the Collector.
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