Senior and Senior Freeze Exemption Renewal Deadline Feb. 7

Senior and Senior Freeze Exemption Renewal Deadline Feb. 7

The Cook County Assessor’s Office mailed renewal applications for the Senior and Senior Freeze exemptions for Tax Year 2017. Those who received the exemptions last tax year should receive a renewal application in the mail. The application deadline is Wednesday, February 7. State law requires annual renewal in order to continue to receive exemption savings.

The Senior Exemption application is part of a booklet sent to eligible seniors. The booklet also contains the separate income-based Senior Freeze Exemption application.

To qualify for the Senior Citizen Exemption for Tax Year 2017, a taxpayer must have:

  • been born prior to or in the year 1952
  • owned the property during 2017 or have a lease or contract for 2017 which makes them responsible for the real estate estate taxes
  • used the property as his or her principal place of residence in 2017

Please note: The new law will increase savings this year for the Senior Exemption from $5,000 to $8,000 in Equalized Assessed Value (EAV). It is important to note that the exemption amount is not the dollar amount by which a tax bill is lowered.

EAV is the partial value of a property to which tax rates are applies; it is this figure on which a tax bill is calculated. The Assessor does not set tax rates. The savings for a Senior Citizen Exemption is calculated by multiplying the exemptions savings of 8,000 by the local tax rate.

To qualify for the Senior Freeze Exemption for Tax Year 2017, a taxpayer must have:

  • been born prior to or in the year 1952
  • a total household income of $65,000 or less for [income] Tax Year 2016
  • owned the property or had a legal, equitable or leasehold interest in the property on January 1, 2016 and January 1, 2017
  • used the property as his or her principal place of residence as of January 1, 2016 and January 1, 2017
  • been liable for payment of 2016 and 2017 property taxes

Please note: new law expands eligibility by increasing allowable total household income to $65,000, from the previous limit of $55,000. There is also a new minimum of $2,000 EAV deduction for the Senior Freeze, which will help offset increases assessed value and help ensure that more seniors benefit from the Senior Exemptions.

Seniors receiving the Senior Citizen Exemption automatically receive the Homeowner Exemption. Seniors receiving the Senior Freeze Exemption automatically receive both the Homeowner and Senior Citizen Exemptions.

Eligible seniors who have never applied for the Senior and/or Senior Freeze Exemptions in the pas may visit the Assessor’s website and download an application or contact the Assessor’s Office at 312-443-7550 and request a form be mailed to them. Applications for the Homeowner Exemption are also available online.

Applications for additional exemptions administered by the Assessor’s Office will be available within the next several weeks.