Higher tax saving for disabled veterans takes effect
Under a new law taking effect this year, veterans of the U.S. Armed Forces who were severely wounded while serving their country will no longer be required to pay property taxes in Illinois.
A property tax exemption for disabled veterans has been in effect since 2007, but the law taking effect this year applies to more disabled veterans and provides greater tax savings than was the case in prior years. Under the new law, the most severely wounded veterans will not pay any property taxes at all.
"Given these changes," Connie Carosielli, Elk Grove Township assessor said, "I urge all disabled veterans to check the eligibility requirements under the new law."
Eligibility Rules, Savings
To qualify for the Disabled Veterans Exemption, a property must be owned and occupied by a disabled veteran, and the veteran must have a disability that is connected to military service. The law requires that the service-connected disability be certified by the U.S. Department of Veterans Affairs, which determines the extent of a veteran's disability.
The following reflects the savings taking effect this year:
• 70 percent or more level of disability, veteran's home is completely exempt from property tax
• 50-69 percent level of disability: $5,000 in Equalized Assessed Value
• 30-49 percent level of disability: $2,500 in Equalized Assessed Value
• 0-29 percent level of disability: no tax savings for this level of disability
Houses with very high market values ($917,000 or more last year) are not eligible for the exemption. It should also be noted that if a disabled veteran dies and is survived by a spouse, the surviving spouse can retain the Disabled Veterans Exemption until the survivor remarries.
First Installment Bills
First installment tax bills are issued before any exemptions are calculated. This means that disabled veterans who are completely exempt from paying taxes this year will nonetheless receive a first installment tax bill that is 55 percent of their total property tax bill from last year.
Once second installment bills come out in July, however, these veterans will be eligible for a refund of the amount paid for the first installment. Veterans with questions about first installment bills should call the Township Assessor's office.
Application Information.
All veterans who received the Disabled Veterans Exemption last year received renewal forms in late January, which must be returned by March 2. The renewal applications must include a letter from the Department of Veterans Affairs dated after Jan. 1, 2015, that verifies the veteran's level of disability.
Those who did not apply for the exemption last year will not get an application in the mail.
"In the past, veterans with disabilities of 50 percent or less were not eligible for the exemption, but eligibility now starts at a disability level of 30 percent," Carosielli said. "These newly eligible veterans, along with any other disabled veteran, can call my office, (847) 437-0300, if they have questions about the exemption or need help completing the application."
Elk Grove Township Assessor Connie Carosielli, along with Cook County Assessor Joseph Berrios, State Representative David Harris, Cook County Commissioner Timothy Schneider, Supervisor Michael Sweeney and the Elk Grove Township board of trustees will be hosting a Veteran's Outreaach seminar at 6:30 p.m. Thursday, Feb. 18, at the Elk Grove Township Hall, 2400 S. Arlington Heights Road, Arlington Heights.
Come to learn about the Disabled Veterans' Exemption and meet the township's veteran counselor Timothy Heiney. Representatives will be able to answer questions regarding any property tax exemptions you are entitled to.