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Exemptions Available to Homeowners
For more information on each of the exemptions listed below, please call the Kane County Supervisor of Assessments Office at (630) 208-3818 or view their website at http://www.kanecountyassessments.org/. You may also reference the Kane County Quick Guide to Property Taxes.
General Homestead Exemption: Also called the Residential Homestead Exemption. Homestead property includes property that is occupied by the owners as their principal dwelling place. The Residential Homestead Exemption exempts $6,000 of the equalized assessed value for the current assessment year.
Homestead Improvement Exemption: Limited to an annual maximum of $25,000 of equalized assessed value when the property is owner-occupied and used exclusively for a residential purpose. When an increase in assessed value is attributable solely to a new improvement of an existing structure, the amount of the exemption shall be limited to the actual value added by the new improvement up to an annual maximum of $25,000 and shall continue for 4 years from the date the improvement is completed and occupied.
Veterans Exemption: The Veterans Exemption is granted to a disabled veteran who has served in the armed forces of the United States and who has acquired in connection with that service a disability of such nature that the Federal Government has authorized payment for purchase or construction of specially adapted housing as set forth in the U.S. Code Title 38, Chapter 21. This exemption covers the veteran's owner-occupied real property up to an equalized assessed value of $70,000. The Veterans Exemption must be reestablished on an annual basis by certification from the Illinois Department of Veterans' Affairs to the Supervisor of Assessments' Office. Note that you will not be eligible if you are claiming exemption under the Disabled Persons Homestead Exemption or the Disabled Veterans Standard Homestead Exemption.
Disabled Veterans Standard Homestead Exemption: The Disabled Veterans Standard Homestead Exemption is granted to a disabled veteran (or the surviving unmarried spouse of a disabled veteran) who has served in the armed forces of the United States and who has acquired in connection with that service at least a 50% disability as certified by the U.S. Department of Veterans Affairs. The Disabled Veterans Standard Homestead Exemption Note exempts up to $5,000 off the equalized assessed value of the veteran's owner-occupied property. Note that you will not be eligible if you are claiming exemption under the Disabled Persons Homestead Exemption or the Veterans Exemption.
Returning Veterans Exemption: The Returning Veterans Exemption grants a one-year only $5,000 exemption off the equalized assessed value on the veteran's owner-occupied real property in the tax year that the veteran returns from active duty in an armed conflict involving the armed forces of the U.S.
Disabled Persons Homestead Exemption: Exempts $2,000 of the equalized assessed valuation on real property owned and occupied by a disabled person (i.e., a person certified as disabled by the State of Illinois or U.S. Government). Note that you will not be eligible if you are claiming exemption under the Disabled Veterans Standard Homestead Exemption or the Veterans Exemption.
Senior Homestead Exemption: Homestead property that is owned and occupied as the principal residence by a person 65 years of age or older who is liable for the real estate taxes on the property and is owner of record or has a legal interest in the property. You must file for this exemption. Forms are available through the Kane County Supervisor of Assessments Office. This is a $5,000 reduction off your equalized assessed valuation.
Senior Citizen Assessment Freeze: To qualify for this exemption you must:
- Be 65 years of age or older this taxable year
- Your gross income must be $65,000 or less for the prior years income
- Have used the property as your principal place of residence on January 1st of the taxable year and the previous year
- Own the property, or have legal or equitable interest in the property and
- Be liable for the payment of the property taxes for the taxable year