List of Homestead Exemptions Available to DeKalb County Residents
There are several property tax exemptions available to homeowners upon application at the Chief County Assessment Office:
The Homestead Exemption Form Limited is an exemption of up to $6,000 off the assessed value if you own (or have a legal interest in) and occupy the property. After initial application, no renewal is necessary.
The Senior (65+) Homestead Exemption PTAX-324 is an exemption of $5,000 off the assessed value for seniors (65 and older) who own and live in their home. An application may be filed anytime during the year a person turns 65. No renewal is necessary.
The Senior Citizen Assessment Freeze Homestead Exemption PTAX-340 is an exemption equal to the difference between the current assessment and the frozen assessed value established at the time of the original application. You must be 65 years of age or older, have a total household income of $65,000 or less, and have lived in your home two January firsts. Application for this exemption must be filed every year as income changes every year.
The Homestead Exemption for Persons with Disabilities PTAX-343 is an exemption of $2,000 off the assessed value for a qualified person who owns and occupies their residence January 1 of the current assessment year, and is disabled. Documentation is required in order to prove the applicant is disabled. This exemption must be renewed annually.
The Disabled Veterans’ Standard Homestead Exemption PTAX-342 is an exemption off of the assessed value for a qualified veteran who owns and occupies their residence January 1 of the current assessment year. If you have a service-related disability of 30%-49%, you will receive a $2,500 exemption; 50%-69%, you will receive a $5,000 exemption; and if you are 70% or over, you are totally exempt of assessed value. The exemption value is based on the percentage of the disability which is rated by the U.S. Department of Veterans’ Affairs. Documentation is required in order to prove the applicant is a veteran and is disabled. This exemption must be renewed annually.
The Returning Veterans’ Homestead Exemption PTAX-341 is an exemption of $5,000 off the assessed value of your property. You must own and live in your property (or have had the intention of doing so) January 1 of the current assessment year, and have returned home from active duty. The exemption is awarded for the year in which you return home from active duty and the following year. If you did not own a residence January 1 of the year you returned home, but purchased one during that year, you will be awarded the exemption for the year following your return home.
Accessibility Improvements to Residential Property – Accessibility improvements made to the residential property shall not increase the assessed valuation of the property for a period of 7 years after the improvements are completed. This exemption needs to be put on by your township assessor.
Natural Disaster Homestead Exemption – A homestead exemption shall be granted by the Chief County Assessment Officer for homestead properties containing a residential structure that has been rebuilt following a natural disaster occurring in the taxable year 2012 or any taxable year thereafter.
Leasehold Homestead Exemption – This an exemption of up to $6,000 off the assessed value of a property in which you have a Leasehold interest.
All of these exemptions may be filed for the 2020 year through December 31, 2020.
The Chief County Assessment Office (located at 110 E. Sycamore St., Sycamore, IL 60178) is open Monday through Friday from 8:30 a.m. to 4:30 p.m. If you have any questions please call 815-895-7120.