| Exemption | Qualifications | Application Process | Renewal Process | Benefits |
|---|---|---|---|---|
| General Homestead - Residential | You are eligible for this exemption if you own and use the property as your main residence or use the property as a main residence and have an equitable legal estate and must pay real estate taxes. | Without a formal application, the Township Assessor will usually approve the taxpayer's exemption. | Township Assessors usually renew accounts automatically. | The maximum assessed value deduction rises to $8,000 in 2023 payable 2024. Tax savings are dependent on the applicable tax rate. The average savings for 2023 payable in 2024 is approximately $584. |
| People with Disabilities | You are eligible for this exemption if you are disabled or become disabled during the assessment year. The applicant must own or lease a single-family home. The applicant must live in the property as their primary home on January 1 of the assessment year and pay property taxes. | The application process includes filing PTAX-343 form with added documents demonstrating eligibility. Additional documents include proof of ownership and proof of disability. If you can't provide proof of your disability, you must submit Form PTAX 343-A Physician's Statement for documentation of disability prepared by a physician to the Illinois Department of Revenue (IDOR). Reexamination by an IDOR-designated physician may be necessary. | The Homestead Exemption for disabled persons no longer requires annual renewal. | The net taxable assessed value is reduced by a maximum of $2,000 by this Homestead Exemption. The precise tax savings are contingent upon the tax rate that applies. |
| Senior Citizens | To qualify you must be 65 years or older by December 31st of the assessment year, own and use the property, and be responsible for paying the real estate taxes on the property. | Senior citizens who are eligible must submit an application and provide documentation of their property ownership and age. | Previous exemption holders will get annual renewal information. Most taxpayers will maintain the exemption without further action once registered. | The Senior Homestead Exemption allows for a maximum reduction of $8,000 from the equalized assessed valuation. |
| Veterans | Illinois residents who have served in the U.S. Armed Forces, Illinois National Guard, or U.S. Reserve Forces and returned from active service in a U.S.-led armed war are eligible. You must own or lease the property, use it as a principal home, and pay property taxes. | The process includes filing PTAX-341 form with additional documents showing eligibility. The Department of Defense DD Form 214 must be submitted if you were discharged from active duty service. Provide your military orders and travel voucher with your return date if you are still on active service after coming home. You must show that you returned from a U.S. military combat in the tax year you desire this exemption. | There is no renewal for this program, as it is exclusively available to veterans in the year following their return from the armed conflict. | The Returning Veterans' Homestead Exemption decreases the veteran's net taxable assessed value by $5,000 in the tax year they returned from service. The average savings is $375; tax savings are dependent on the tax rate. |
Property Tax Locations
Chicago Office
(By appointment only)
75 Executive Drive,
Suite 349, Aurora, IL 60504
708-630-0944
Houston Office
(Corporate)
2200 North Loop West,
Suite 200 Houston, TX 77018
713-686-9955
Dallas Office
(By appointment only)
12300 Ford Rd., Suite #414
Dallas, TX 75234
972-243-9966
San Antonio Office
(By appointment only)
8632 Fredericksburg Rd Ste 105
San Antonio TX 78240
210-226-0829
Atlanta Office
(By appointment only)
4751 Best Road, Suite 316,
College Park, GA 30337
770-835-4126
Property Tax Protection Program™ Benefits
- No flat fees or upfront costs. No cost ever unless your property taxes are reduced.
- All practical efforts are made every year to reduce your property taxes.
- Never miss another appeal deadline.
- Property taxes protested for you annually.
- You do not have to accept the appraisal district's initial guesstimate of value.
- We coordinate with you regarding building size / condition to avoid excess taxes.
- Free support regarding homestead exemptions.
- Some years are good - typically 6 to 7 out of 10 will result in tax reduction for you.
- The other 3 to 4 years out of 10 we strike out. Most often due to people issues in the hearing process. Some years we get an easy appraiser at the informal; some years someone who is impossible to settle with.
About O'Connor
Property Tax Help Specialists
O’Connor provides property tax appeal services to over 100,000 clients in over 40 states. Client tax savings totaled over $120 million in 2020. O’Connor has been serving property owners since 1974, almost 50 years. Client tax savings total over $1,000,000,000.
O’Connor measures its success in client property tax savings, not billings. Our goal is to save clients $1 billion annually.
With over 200 property tax experts, many of whom have worked with us for 10+ years, O’Connor has the expertise to help with your property tax questions and appeals. We literally wrote the books on property tax reduction:
- Mass Appraisal for Commercial – What Every Commercial Property Owner Should Know!
- What You Need to Know about Business Personal Property
- Cut Your Texas Property Taxes
The steps to appeal are complicated and may seem like too much work, but when O'Connor represents your property for appeal, we handle the details. We provide a property tax reduction service to residential homeowners in exchange for a contingency fee of 30 percent of all property taxes saved through administrative hearings or judicial appeal, for that tax year.