Copyright © 2006 - 2007 Downers Grove Township•••••All Rights Reserved
Copyright © 2006 - 2007 Downers Grove Township•••••All Rights Reserved
EXEMPTIONS
Senior Homestead Exemption - is granted to owner-occupied properties if the owner is 65 years of age or older and was the owner-occupant of the property on January 1st of the assessment year. The exemption reduces the equalized assessed value by $3,500 (2007 tax year). The maximum amount of assessment reduction is increased from $3,500 (2007 tax year) to $4,000 for the 2008, payable in the 2009 tax year. The exemption may be applied for any time during the year the owner reaches 65 years of age. Proof of age and ownership is required with the application. An application is available at the Assessor's Office or the Supervisor of Assessments Office.
Proof of Ownership – one of the following is required
- Deed in Trust, plus a copy of the trust agreement
- Warranty Deed
- Trustee Deed
- Quit Claim Deed
- Release of Mortgage
- Release of Deed by Corporation
Note: These documents are not recorded.
- Contract Buying
- Title Insurance Policy - must include Schedule "A"
Note: These documents are not acceptable for Proof of Ownership.
- Affidavit of Sale
- Bill of Sale
- Closing Statement
- Mortgage Policy
- Receivers' Deed
- Title Commitment
- Trust Deed
Proof of Age – one of the following is required
- State of Illinois Driver's License
- Passport (current)
- Baptismal Certificate
- State of Illinois ID
- Birth Certificate
- Citizenship Papers - must include birth date
Note: These documents must be recorded.