Neighbor News
New Trier Township Assessor Shares News of Higher Tax Savings for Some Disabled Veterans
New state law enables veterans with severe disability to receive higher level of exemptions.
Under a new law, veterans who were severely injured while serving their country will no longer be required to pay property taxes in Illinois. The minimum qualifying level of disability for lesser exemption amounts has also been lowered to 30%. A letter from the Department of Veterans Affairs dated after 1/1/2015 is required to verify the veteran’s level of disability.
Level of Disability Tax Savings
70% or more-----Completely exempt from property tax
Find out what's happening in Wilmette-Kenilworthfor free with the latest updates from Patch.
50%-69%---------$5,000 off the Equalized Assessed Value
30%-49%---------$2.500 off the Equalized Assessed Value
Find out what's happening in Wilmette-Kenilworthfor free with the latest updates from Patch.
0%-29%-----------Not qualified for exemption
Homes with very high market values (over $250,000 of Equalized Assessed Value) do not qualify.
Because first installment tax bills are issued prior to any exemptions being calculated, even those receiving the full exemption from taxes must pay that bill. Once second installment bills come out in July, those veterans will be eligible for a refund of the amount paid.
Applications are available online at www.cookcountyassessor.com and in the Township Office at 739 Elm Street in Winnetka. The exemption must be filed for each year, and applications must be submitted by March 2, 2016. For more detailed information and assistance in applying, please call the Township Assessor’s Office at 847-446-8200.
