Tax exemptions difficult to navigate

Cook County’s property tax exemptions are meant to help reduce homeowners property tax burdens, but they are much like Chicago’s weather. Just wait a minute and it will change. Our eight property tax exemptions are needlessly complicated, confusing and now said to germinate a plethora of homeowner and senior citizen crooks, according to the Cook County Assessor.

This year’s application rules include some of the following guidelines. All homeowner exemptions are automatic — only first-time buyers need to reapply. Seniors, only residing in Cook County, must apply each year for their senior exemptions. That new rules monitors if they are still alive and able to respond to the application by mail. Senior freeze exemptions are applied for yearly but cannot be received with some exemptions. The stealthlike “longtime occupancy” exemption replaces the 7 percent cap exemption, and you must apply for it each year, if you are mailed the exemption directly because it is not available to online.

For the home improvement exemption, apply once, and four years later those improvements reflect higher market values. Go file an appeal. Returning veterans apply once. Disabled veterans apply once, but this exemption may not be received with some exemptions. Disabled persons who are not in the armed forces need to apply once, but the exemption cannot be received with some exemptions.

Many homeowners, and even tenants responsible for paying the property taxes, do not get any of these exemptions that help reduce property taxes. Over the past 10 years, millions of dollars in lost exemption savings are due and/or are partially refunded to Cook County homeowners. And you can only reclaim your lost exemptions for the past three years.

Confused? You bet.

Pete Clark

Chicago