2015 illinois ptax 340 form-2026

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  1. Click ‘Get Form’ to open the 2015 Illinois PTAX 340 form in the editor.
  2. Begin with Part 1: Applicant Information. Fill in your first name, middle initial, last name, tax ID number, mailing address, city, state, ZIP code, date of birth, and contact information. Ensure all details are accurate.
  3. Move to Part 2: Property Information. Enter the street address of the property for which you are applying for the exemption. Provide the property index number (PIN) and answer questions regarding previous exemptions.
  4. In Part 3: Household Income for 2014, list all sources of income for you and your household members. Include Social Security benefits, wages, pensions, and any other relevant income as specified in the instructions.
  5. Complete Part 4: Affidavit by marking applicable statements about ownership and residency. Sign and date the affidavit before submitting it.

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To qualify you must: be age 65 by December 31st of the assessment year for which the application is made. own and occupy the property. be liable for the payment of real estate taxes on the property.
Taxpayers whose primary residence is a single-family home, townhouse, condominium, co-op or apartment building (up to six units) are eligible. First-time applicants must have been the occupants of the property as of January 1 of the tax year in question.
The Home Improvement Exemption allows a homeowner to add improvements to their home that add to its value (for example, by increasing the buildings square footage, or repairing after structural flood damage) without being taxed on up to $75,000 of the added value for up to four years. No application is required.

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The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of a property by $10,000. EAV is the partial value of a property used to calculate tax bills. It is important to note that the exemption amount is not the dollar amount by which a tax bill is lowered.
Have a total household income $65,000 or less in 2024. SPECIAL SITUATIONS: If your property is assessed under the mobile home privilege tax, you do not qualify for this exemption. exemption in 2025, and you meet all requirements except the age requirement, you are eligible for this exemption in 2025.
The property tax credit is available to residents who paid taxes on their main home that was located in Illinois for the time you owned and lived in the home. Nonresidents of Illinois may not take this credit.
Those eligible for exemptions generally need to apply with their local tax assessor, including schools, religious groups, charities, those with disabilities, veterans and the elderly.

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