Copyright © 2006 - 2007 Downers Grove Township•••••All Rights Reserved
Copyright © 2006 - 2007 Downers Grove Township•••••All Rights Reserved
EXEMPTIONS
Residential Exemption (General Homestead Exemption) - Illinois statutes provide for an exemption of up to $5,500 (2008 tax year) in equalized assessed value on homes occupied by the person legally responsible for the payment of real estate taxes. The maximum amount of assessment reduction is increased from $5,000 (2007 tax year) to $5,500 for the 2008 tax year, and $6,000 in 2009, payable in the 2010 tax year.