Eligible Homeowners: Your Path to Property Tax Relief
Property tax exemptions hold the key to reducing your Second Installment Property Tax Bill, offering homeowners a chance to keep more money in their pockets. As a homeowner, it’s essential to be aware of these potential savings and ensure you’re taking full advantage of the exemptions available to you.
Understanding Property Tax Exemptions
When you receive your property tax bill, take a moment to check the bottom left corner. This is where you’ll find valuable information regarding exemption deductions. The most common exemption, accessible to most homeowners, is the Homeowner Exemption, which typically results in an average savings of approximately $950. Additionally, senior homeowners aged 65 and older may qualify for even more property tax savings through the Senior Exemption.
Changes in Exemption Renewals
It’s important to note that the automatic renewals related to COVID-19 have ended this year. Consequently, many homeowners will need to resume annual filings for specific exemptions, particularly the Low-Income Senior Citizens Assessment Freeze, often referred to as the “Senior Freeze,” and the Veterans with Disabilities Exemptions. To ensure you benefit from these exemptions, seniors, and veterans should meticulously review their tax bills to verify that the correct exemption deductions have been applied.
Exploring Your Exemption Options
For a comprehensive list of property tax exemptions administered by the Assessor’s Office, visit their official website at cookcountyassessor.com/exemptions. This resource will help you explore the various exemptions available and determine your eligibility.
Applying for Missing Exemptions
If you believe you’re eligible for an exemption and it’s not reflected on your tax bill, you have the opportunity to claim your missing property tax savings. To initiate this process, you can complete a Certificate of Error application. This application allows homeowners to redeem missing exemptions for the 2022, 2021, 2020, 2019, and 2018 tax years.
Act promptly by submitting an online application or scheduling an appointment to apply for any missing exemptions. Be sure to have the necessary documents and accepted photo IDs on hand, as listed on the Assessor’s website.
Tax Payment Reminder
A crucial reminder for homeowners is that they are responsible for paying the entire tax bill to the Cook County Treasurer’s Office by Friday, December 1, 2023. If you’ve already paid the original amount due and subsequently received exemptions, you can expect a refund check from the Cook County Treasurer’s Office once the Assessor’s Office processes your application.
Don’t miss out on the opportunity to reduce your property tax bill and keep more of your hard-earned money. Review your exemptions, apply for any missing ones, and ensure your tax payments are in order to enjoy the maximum savings available to you.
