Ptax 300 2026

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The document outlines the procedures and requirements for applying for a non-homestead property tax exemption through the Lake County Board of Review. It includes instructions for completing the Application for Property Tax Exemption (Form PTAX-300), necessary documentation, and steps to follow for submission. The document emphasizes the importance of providing complete information and notifying relevant taxing bodies if the exemption could significantly reduce assessed property valuation.

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Click ‘Get Form’ to open the PTAX-300 in the editor.
Begin by identifying the property. Fill in the county name, property owner, street address, and organization applying for the exemption. Ensure all details are accurate.
Indicate if the applicant is a lessee and provide lease dates if applicable. Enter the property index number and dimensions or acreage of the property.
In Step 2, check if there are any previous exemptions or applications related to this property. Provide necessary details to expedite processing.
For Step 3, describe how the property is used. Include specific activities, income derived from it, and whether local government owns it.
Attach required documentation as outlined in Step 4. This includes proof of ownership and any relevant contracts or leases.
Complete contact information for follow-up regarding this application in Step 5.
Finally, ensure that you sign and notarize the application before submitting it to the county board of review.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Why am I not eligible for the Illinois property tax rebate?

The property tax credit is not available to taxpayers with a federal AGI over $500,000 for married filing joint filing status ($250,000 for all other filing status).

Who qualifies for property tax relief in Illinois?

Be age 65 or older. Have a maximum gross household income of $65,000, including that of all persons using the property as their principal dwelling place on January 1st of the tax year. Obtain an application for the exemption at the Assessors office..

At what age do seniors stop paying property taxes in Illinois?

Most senior homeowners are eligible for this exemption if they are 65 years of age or older (born in 1959 or prior) and own and occupy their property as their principal place of residence. Once this exemption is applied, the Assessors Office automatically renews it for you each year.

What is a PTAX form in Illinois?

County offices and the Illinois Department of Revenue use this form to collect sales data and to determine if a sale can be used in assessment ratio studies. This information is used to compute equalization factors.

Who qualifies for homeowners exemption in Illinois?

Taxpayers whose primary residence is a single-family home, townhouse, inium, 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.

illinois ptax 300

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At what age do you stop paying property tax in Illinois?

If you are 65 or over, you will qualify for this exemption in your name and can apply online. Otherwise, your property will receive the exemption for the remainder of the year of your spouses death. You will then have to apply when you turn 65.

How do you qualify for the Illinois property tax credit?

your principal residence must have been in Illinois during the prior year, you must have owned your principal residence, and. your property tax bill must have been paid during the taxable year.

Who qualifies for tax exempt status in Illinois?

Information for exclusively charitable, religious, or educational organizations; governmental bodies; and certain other tax-exempt organizations. Qualified organizations, as determined by the Illinois Department of Revenue (IDOR), are exempt from paying sales taxes in Illinois.