be age 65 or older any time in the assessment year for which
the application is made.
own and occupy the property during the application year.
be liable for the payment of real estate taxes on the
How to apply: Newly eligible senior taxpayers must complete an initial
application, supply proof of age and verify property ownership.
Applications and guidelines are available from the Supervisor of
Assessments Office. CLICK
HERE for this ONE-TIME
APPLICATION which will be renewed automatically
every year as long as the senior owns and occupies their
residence. If you are already receiving the Senior
Citizen Homestead Exemption, there is no need to
What benefits does this exemption provide? The Senior
Citizen Homestead Exemption provides a $5,000 reduction from the
equalized assessed valuation. For a senior whose property
is subject to a hypothetical tax rate of 10.00 per one hundred
dollars of assessed value the Senior Citizen Exemption results
in a tax savings of $500 ($5,000 x .10000). The Owner Occupied
Exemption is automatically granted with this Senior Citizen
Exemption. This provides an additional reduction of up to
$6,000 from the equalized assessed value for a total
tax savings of $1,100.
ASSESSMENT FREEZE HOMESTEAD EXEMPTION
Who is eligible?
To qualify you must:
establish age, ownership and residency by applying for the
Senior Citizen Homestead Exemption.
have a total household income (before deductions) of less than
$55,000. This includes all taxable and non-taxable
own and occupy the property on January 1st of the
application year and prior base year.
be liable for payment of real estate taxes on the property. In
some cases, the surviving spouse of an eligible senior citizen
How to apply.
Eligible senior taxpayers must complete an application (pink PTAX
340 form). This form must be signed and returned to the
Supervisor of Assessments office. Income from all household members
needs to be itemized and totaled for the year prior to the
application year. All information acquired from the application is
confidential and may be used only for official purposes. This exemption is
required to be filed for every year by the July
1st deadline. Applications are mailed by the
Supervisor of Assessments to those senior taxpayers who had
the Senior Citizen Assessment Freeze Homestead Exemption the
What benefits does this exemption
The Assessment Freeze Homestead Exemption provides seniors with
limited protection against real estate tax increases due to
rising property values. It is not a tax freeze or a tax reduction
and does not protect against increased taxes due to tax rate
increases. Because this exemption provides for a base
year frozen assessment, it will potentially provide increased
savings each year a senior is eligible during times of increasing
If a senior no longer qualifies for the Assessment Freeze
Homestead Exemption, taxes will then be based on the current
"non-freeze" property assessment.
HOMESTEAD IMPROVEMENT EXEMPTION
This exemption reduces the Board of Review assessed value by
the amount of increase in assessed value due to improvements
added to an existing structure. It is available for single family
residential properties which are occupied by
the property owner as their principal dwelling. This
exemption encourages the expansion and improvement of homes by
exempting up to $25,000 in assessment increase for that
addition for four (4) years from the date of completion.
Information and applications for these tax savings may
be obtained from the
Supervisor of Assessments Office 404 Elm Street, Room 301 Rockford, IL 61101 Phone: (815) 319-4460
Citizen Exemptions described up to this point do not require
repayment of the tax savings. The following program requires
repayment of tax savings
SENIOR REAL ESTATE TAX DEFERRAL PROGRAM
Who is eligible? To qualify you must:
Be age 65 or older by June 1st of the year for which the
application is made.
Have a total household income of less than $55,000 or
Own (property must remain in senior's name) and occupied the
property for at least 3 years.
For first time applicants, starting with the 2012 tax bills and
thereafter, the only form of trust that the property can be held in
is an Illinois Land Trust, with the applicant and spouse,
identified as the sole beneficiary(s) of the trust.
Be liable for payment of real estate taxes on the
Have no delinquent real estate taxes or special
Beginning with the 2012 tax bill (payable in 2013), the maximum
annual property tax bill deferral shall not exceed $5,000.00 per
year. The lien fee amount for that year is not included in the
$5,000.00 cap. Currently the law stated that a taxpayer may defer
anywhere from 1% to 100% of their annual tax bill. Under this
change, a taxpayer with an annual tax bill of $5,200.00 will only
be able to defer $5,000.00. It will be the taxpayer's
responsibility to pay the remaining $200.00 to the county.
File an application by March 1st.
How to apply. Application and guidelines are available from the
Winnebago County Treasurer, 404 Elm St., Rm 205, Rockford, IL
61101. Phone: (815) 319-4400
What benefits does this program provide? This program allows a qualifying senior to defer payment
of real estate taxes on his or her personal residence. The State of
Illinois pays the real estate taxes. Then when the senior sells the
property or within a year of his or her death, repayment plus
interest of 6% annually is made.