Homeowners in Illinois 65 years of age and above have the opportunity to apply for a Senior Citizens Homestead Exemption, explains Monmouth Farm and Home Realty Managing Broker Linda Doyle:
“In Illinois, everybody that owns their home gets a $6,000 exemption for being a homeowner. When you get to be a senior, you get another $5,000 that you can add onto that $6,000 of your assessed value. That can be helpful,” Doyle states.
The Senior Citizen Homestead Exemption is not based on income.
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