Improvements include: room additions, new garages or out buildings, new bathrooms, decks or porches. This exemption allows an owner occupied residence to be improved to an extent that the fair market value of the residence increases by up to $75,000 without an increase to the property taxes attributable to that new improvement for up to four years. To proceed with printing your exemption application form, please click here. There is no annual renewal required for this exemption.
This exemption does not transfer, meaning if you buy a new property and you move to that property, you are required to make application for the exemption to be applied to the new residence and subsequently, the exemption will be removed from the old residence. To simplify this, if you own and occupy the property in 2019, you have until to file an application for the General Homestead Exemption for the 2019 payable in 2020 real estate taxes. The deadline to make application for this exemption is January 31 for the tax year. The exemption amount is calculated by subtracting the equalized assessed value in 1977 from the present equalized assessed value and may be prorated from date of occupancy to December 31, (if not owner/occupied on January 1. This exemption amounts to a reduction of the equalized assessed value of up to $6,000. Upon application, owner occupied homestead property qualifies for the General Homestead Exemption from the date of owner/occupancy. The official application form, or an approved facsimile, must be completed in its entirety and filed with the Sangamon County Supervisor of Assessments to receive an exemption.
Proof of residency, such as a current IL Driver’s license or state issued photo ID, is required. Ownership may be established by deed, will, contract or lease, which makes you responsible for the payment of the real estate taxes.
"Homestead Property" under this definition includes single family residential property that is occupied by its owner(s) as his/her, (their), principal dwelling place. *** Click here for the list of Exemptions that WILL Not have to be renewed for the 2021 payable 2022 tax year due to COVID-19 *** Owner Occupied Homestead Exemptions