Cook County Property Taxes - Senior Exemption Change
Cook County has finally joined the Collar Counties in allowing the Senior Exemption to automatically renew.
Previously, seniors had to reapply for the Senior Exemption every year, but now it will automatically rollover just like the Homeowners Exemption.
The Homeowners exemption provides relief to homeowners in Illinois, with the Senior Exemption giving senior homeowners another opportunity for additional relief.
For Seniors with limited income, the Senior Freeze exemption is available, which "freezes" the equalized property assessment in order to help bring relief to Illinois Seniors making less than $65,000/year (this has increased). Unlike the Homeowners and Senior Exemptions, however, Senior Freeze Exemption recipients must still apply annually to have the exemption continually reapplied.
The Schaumburg Assessor's Office has a list, available online here, of each residential property exemption and the application forms for each exemption. Also included are frequently asked questions and answers.
You can also contact them either by phone or in person, with any questions regarding property tax exemptions, and to make sure you are receiving any and all exemptions for which you may qualify.
