Ptax 342 r 2015-2019 form - mercercountyil-2025

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Filing for a Homestead Exemption Another way to lower your property taxes is to apply for a homestead exemption, which would result in a reduction in your propertys assessed value and, in turn, in the amount of property tax.
The only way to lower your property tax rate is to reduce the value of your property and then have it re-assessed. That could be by failing to maintain the property, removing an addition, removing valuable features or selling off part of the property.
If you do not agree with the county board of reviews decision, you can appeal the decision (in writing) to the State Property Tax Appeal Board or file a tax objection complaint in circuit court. In either case, you must pay your taxes pending the outcome of the appeal of the board of reviews decision.
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.
Illinois Property Tax Rates CountyMedian Home ValueAverage Effective Property Tax Rate Mercer County $131,000 1.97% Monroe County $254,100 1.77% Montgomery County $102,000 1.71% Morgan County $122,000 1.95%76 more rows
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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..
Property Tax Relief - Homestead Exemptions, PTELL, and Senior Citizens Real Estate Tax Deferral Program General Homestead Exemption (GHE) Long-time Occupant Homestead Exemption (LOHE) - Cook County Only. Homestead Exemption for Persons with Disabilities. Veterans with Disabilities Exemption for Specially-Adapted Housing.

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