The County of DuPage
Wheaton, Illinois
 

Homestead Improvement Exemption

Statutory Citation:

35 ILCS 200/15-180

Qualification

  • If an existing primary residence which is used exclusively for residential purposes experiences an assessment increase resulting from a physical change made to the property, such a new addition or improvement, the amount of assessed value directly related to this change may be deducted from the total taxable assessed value of the property, for a period of four years.
  • The maximum deduction is $25,000 of assessed value.

Application Process

  • If the Township Assessor increases the assessed value on an eligible property as the result of a physical change to the home, the Assessor will automatically initiate the exemption on behalf of the taxpayer.
  • Upon approval of the exemption by the Board of Review, the taxpayer will receive a written change of assessment notice verifying the granting of the exemption.
  • If you have any questions regarding this process, please contact your Township Assessor.

Renewal Process

  • The exemption will automatically be renewed during the three year period following the initial granting of the exemption.
  • Upon the fifth year after the initial granting of the exemption, the taxable assessed will revert to a normal value.

Benefit

  • During the four year period the exemption is in place, the assessed value associated with the physical improvement to the home, up to a maximum of $25,000 of assessed value, is deducted from the taxable assessed value.
  • For the 2009, pay 2010 assessment year, the typical tax savings for those receiving the maximum exemption amount was about $1,430.