HOMESTEAD EXEMPTIONS

1) General Homestead Exemption: Reduces assessed value by up to $6,000. Available to persons who own and occupy their own home as their principal residence, or to persons who have an ownership interest therein, legal or equitable or as a lessee, occupy it as of January 1 of the assessment year and on which the person is liable for the payment of property taxes.  

2) Senior Citizen Homestead Exemption: Reduces assessed value by $5,000. Available to persons 65 years of age or older. Available to seniors who own and occupy their own home as their principal residence, or to persons who have an ownership interest therein, legal or equitable interest or as a lessee, occupy it as of January 1 of the assessment year and on which the person is liable for the payment of property taxes.

3) Senior Citizen Assessment Freeze Homestead Exemption: Freezes the assessment at a base year causing the net taxable value to remain the same, less some material change to the property. It does not freeze the taxes, only the assessment. Available on the principal residence of persons 65 years of age and older, who have owned and resided in the property for a 2-year period, whose household income is $65,000 or less, or to persons who have an ownership interest therein, legal or equitable or as a lessee, occupy it on January 1 of the year prior to filing for this exemption and on which the person is liable for the payment of property taxes. 

4) Homestead Improvement Exemption: Reduces the assessment attributable to a residential improvement that increases the assessed value of the property for a four-year period. It is based on the fair cash value (a maximum of $25,000 assessed value) of the improvement. To qualify, the property must be the principal residence of the owner and occupied it as of January 1 of the assessment year and are liable for the payment of the property taxes.

5) Returning Veteran’s Homestead Exemption: A $5,000 reduction in assessed value for veteran homeowners’ the year they return home from an armed conflict. Must be the owner of record or have legal interest in the property and occputy it as your prinicpal residence on January 1 of the assessment year and are liable for the payment of the property taxes.

6) Disabled Veterans’ Standard Homestead Exemption: A reduction in assessment of $2,500 for veteran homeowners with a service related disability of 30%-49%,  a reduction in assessment of $5,000 for veteran homeowners with a service related disability of 50%-69%, tax exempt for veteran homeowners with a service related disability of 70%-100%. Must by the owner of record or have legal interest in the property and occupty it as your principal residence as of January 1 of the assessment year and liable for the payment of the property taxes. Exemption only applies to the residence, not farmland or farm buildings.  The property's total equalized assessed value must be less then $250,000.

7) Disabled Veteran’s Homestead Exemption: A reduction in assessment of up to $100,000 for veteran homeowners with service related disabilities that require housing that is designed to accommodate the disability.

8) Disabled Person’s Homestead Exemption: A reduction of $2,000 in assessed value for disabled homeowners. To qualify, the property must be the principal residence of the owner and occupied it as of January 1 of the assessment year and liable for the payment of the property taxes.

9) Tenant Homestead Exemption:  Reduces assessed value by up to $6,000. Available to persons who lease and occupy the home as of January 1. The lessee is liable for the payment of property taxes.  

Applications for all of the exemptions are available in the Supervisor of Assessments Office in the Courthouse in Morrison, Illinois.

2015 Assessment Publications

Assessment publications are going to be made September 29, 2015 in the Whiteside News Sentinel, Prophetstown Echo and the Daily Gazette. Assessment publications are going to be made on September 30, 2015 in the Fulton Journal and Erie Review.

Assessment appeals must be filed by October 29, 2015 for properties in:

Clyde, Ustick, Lyndon, Mt. Pleasant, Union Grove, Prophetstown, Coloma, Genesee, Hahnaman, Hopkins, Hume, Jordan, Montmorency, Sterling and Tampico Townships.

Assessment appeals must be filed by October 30, 2015 for properties in:

Albany, Fulton, Garden Plain, Newton, Fenton, Erie and Portland Townships.

In a quadrennial year all assessments in a township are published. Quadrennial assessments were made this year in Coloma, Hume, Montmorency, Tampico and Hahnaman Townships

In non-quadrennial years, only those assessments changed by an assessing official are published. Assessments changed by the application of a township factor are not required to be published.

Under authority of 35 ILCS-200-9-210, formerly chapter 120, Section 95a of the Illinois Revised Statutes, notice is given that all non-farm property, has been reassessed for the 2015 assessment year by the application of the following factors.

Fulton Township

Ustick/Clyde Townships

Genesee/Hopkins/Jordan Townships

Albany/Garden Plain Townships

Union Grove/Mt. Pleasant Townships

Sterling Township

Coloma Township

Newton/Fenton/Portland Townships

Erie Township

Tampico Township  

Lyndon Township

Prophetstown Township

Hume/Montmorency/Hahnaman Townships