Exemptions Available to Homeowners
Exemptions reduce the Equalized Assessed Value (EAV) by a specific amount; the actual tax bill savings depends on the current tax rate for that property
The General Homestead Exemption reduces the EAV of an owner occupied dwelling by $6,000.
The Senior Citizen Homestead Exemption (65yrs and over) reduces the EAV of a senior-owned and occupied dwelling by $5,000.
The Senior Citizen Assessment Freeze Exemption freezes the EAV of a senior-owned (65yrs and over) and occupied dwelling at a base year, causing the assessment not to increase. This does not freeze your taxes, only your assessment. This is restricted to households with a total income of $65,000 or less (income level increased in 2018).
The Homestead Improvement Exemption reduces the EAV of an owner occupied property, up to $25,000 assessed ($75,000 market value), based on the value of a qualifying new improvement added to the existing assessment. This exemption lasts for 4 years after the new improvement is complete. You need not file an application. The Assessor will apply this exemption and verify the amount to the County Assessment Office.
Other Exemptions Available:
The Elgin Township Assessor’s office only processes and applies the Home Improvement Exemption. We assist homeowners in completing various Homestead Exemption forms but these applications are processed and granted or denied by the Kane County Assessment Office. For information on any of these exemptions contact:
The Kane County Assessment Office
719 S Batavia Ave – Building C
Geneva, IL 60134
*Exemption forms are available on the County website or by clicking on any of the links above.
Other Taxpayer Assistance Programs
The Senior Citizen Real Estate Tax Deferral Program allows qualified senior citizens to defer part or all of the property taxes on their property. It is a form of a loan with interest which is to be repaid after the taxpayer’s death or at the time the property is sold. Contact the Kane County Treasurer for more information. The annual application period is January 1 to March 1.
The Benefit Access Program provides low-income senior citizens and disabled citizens yearly grants to help pay property taxes. To apply, you need to complete Form IL-1363. You may get this form online at www.cbrx.il.gov/aging or call 1-800-252-8966 or 1-888-206-1327 (TTY). Elgin Senior Services also provides assistance with completing the Benefit Access Program application.