There are a variety of Exemptions that taxpayers may qualify for. Below are some of the most common ones yet a complete list and additional information can be found on the Will County Supervisor of Assessments website at Exemptions (willcountysoa.com)
Disabled Veterans' Standard Homestead Exemption
Property can receive only one of the disability exemptions per assessment year under Section 15-165 Disabled Veterans’ Homestead Exemption, Section 15-168 Disabled Persons’ Homestead Exemption, or Section 15-169 Disabled Veterans’ Standard Homestead Exemption.
The SHEVD (35 ILCS 200/15-169) provides an annual reduction in the equalized assessed value (EAV) of a primary residence occupied by a veteran with a disability, or the veteran’s surviving spouse, on January 1 of the assessment year. The SHEVD amount depends on the percentage of the service-connected disability as certified by the U.S. Department of Veterans’ Affairs. If the veteran has a service-connected disability of 30% or more but less than 50%, then the annual exemption is $2,500; if the veteran has a service-connected disability of 50% or more but less than 70%, then the annual exemption is $5,000; and if the veteran has a service-connected disability of 70% or more, then the residential property is exempt from taxation under this Code.
Note: The property’s total EAV must be less than $250,000 after subtracting any portion used for commercial purposes. “Commercial purposes” include any portion of the property rented for more than 6 months. If you previously received the SHEVD and now reside in a facility licensed under the Nursing Home Care Act or operated by the U.S. Department of Veterans’ Affairs, you are still eligible to receive the SHEVD provided your property is occupied by your spouse; or remains unoccupied during the assessment year.
Who is eligible?
To qualify for the SHEVD, the veteran must:
• be an Illinois resident who served as a member of the U.S. Armed Forces on active duty or state active duty, Illinois National Guard, or U.S. Reserve Forces, and who has an honorable discharge;
• have at least a 30 percent service-connected disability certified by the U.S. Department of Veterans’ Affairs; and
• own and occupy the property as the primary residence on January 1 of the assessment year or lease and occupy a single family residence on January 1 of the assessment year and be liable for the payment of the property taxes to the county.
Click here for the application http://www.willcountysoa.com/Content/Forms/PTAX-342.pdf
Returning Veteran Homestead Exemption
A one-time $5,000 in EAV of the veteran’s principal residence for the taxable year that the veteran returns from active duty in an armed conflict involving the United States. This means the exemption is only for a single year, but the veteran can receive the exemption again if they return from active duty in a subsequent year.
The veteran flies form PTAX-341 each assessment year when they return home to receive the exemption.
NOTE: A disabled persons or disabled veteran’s property can receive only one of the following exemptions each year: Disabled Veterans’ Exemption (35 ILCCCS 200/15-165), Disabled Persons’ Homestead Exemption (35 ILCS 200/15-168) or the Disabled Veterans’ Standard Homestead Exemption (35 ILCS 200/15-169).
Click here for the application
Will County Supervisor of Assessments Office
302 North Chicago Street
Joliet, IL 60432