Questions and Answers
Property tax exemptions for homeowners 65 and older
General information about the Illinois Senior Citizens Homestead Exemption, the Senior Freeze, and the General Homestead Exemption. This is educational information only, not tax advice.
What is the Senior Citizens Homestead Exemption?
Under 35 ILCS 200/15-170, this exemption is for a homeowner who is 65 or older, occupies the home as a residence, and is responsible for its property taxes. It lowers the equalized assessed value (EAV), not the bill itself. According to the Illinois Department of Revenue, the maximum reduction in EAV is $8,000 in Cook County and counties next to Cook, and $5,000 in other counties. Filing rules vary: the Cook County Assessor says its Senior Exemption renews automatically once granted, while some other counties require an annual renewal form.
Eligibility, amounts and deadlines vary by county and can change; verify with your county assessor. This is general information, not tax advice; please ask your county assessor or tax advisor about your situation.
What is the Senior Freeze (Low-Income Senior Citizens Assessment Freeze Homestead Exemption)?
Under 35 ILCS 200/15-172, a qualifying homeowner who is at least 65 and meets the household income limit can have the home’s EAV “frozen” at a base year. According to the Illinois Department of Revenue, the total household income limit is $75,000 for tax year 2026 (taxes payable in 2027). The bill can still change if tax rates go up or improvements are added. You must reapply every year (Form PTAX-340 with your county; the Cook County Assessor also requires annual filing).
Eligibility, amounts and deadlines vary by county and can change; verify with your county assessor. This is general information, not tax advice; please ask your county assessor or tax advisor about your situation.
What is the General Homestead Exemption?
Under 35 ILCS 200/15-175, this exemption is for owner-occupied homes. According to the Illinois Department of Revenue (PIO-74, revised July 2025; the amounts that apply to current tax years, including tax year 2026, checked October 16, 2026), it reduces EAV by up to $10,000 in Cook County, $8,000 in counties next to Cook, and $6,000 in other counties. In Cook County it is called the Homeowner Exemption, and the Cook County Assessor says it renews automatically once granted. When you buy a home you will live in, check that the exemption is applied in your name.
Eligibility, amounts and deadlines vary by county and can change; verify with your county assessor. This is general information, not tax advice; please ask your county assessor or tax advisor about your situation.