Returning Veterans' Homestead Exemption
Statutory Citation:35 ILCS 200/15-167
- Must be an Illinois resident who has served as a member of the U.S. Armed Forces, Illinois National Guard, or U.S. Reserve Forces and returned from active duty in an armed conflict involving the armed forces of the U.S;
- Must own or lease and occupy the property as a primary residence and be liable for paying the property taxes.
- File a completed PTAX-341 application form with additional documentation demonstrating eligibility.
Additional Documentation - Proof of Ownership
Additional Documentation - Proof of Service
- If you were discharged from active duty service, you will need to provide the Department of Defense DD Form 214.
- If you are still on active duty after returning home, you will need to provide your military orders and travel voucher showing the date of your return.
- The documents must state that you are returning from an armed conflict involving the armed forces of the U.S. within the tax year that you are requesting this exemption.
- This program is only available for veterans for the year returning from the armed conflict therefore there is no renewal.
- This Returning Veterans' Homestead Exemption reduces the net taxable assessed value by $5,000 for the tax year the veteran returned from an armed conflict.
- The actual tax savings is dependent on the applicable tax rate. Typical savings is about $375.