Property Tax Benefits for Veterans in Illinois
2 Property Tax benefits for veterans in Illinois.
Standard Homestead Exemption for Veterans with Disabilities (SHEVD)
Illinois reduces the equalized assessed value (EAV) of a disabled veteran's primary residence on a sliding scale, and fully exempts the home from property tax for veterans rated 70% or more.
Eligibility: Illinois resident veteran with a VA service-connected disability of at least 30%, who owns and occupies the property as a primary residence. Unmarried surviving spouses qualify, including (since tax year 2023) spouses receiving VA Dependency and Indemnity Compensation for a service-connected death.
Estimated value: $2,500 EAV reduction (30–49%), $5,000 (50–69%), and full property tax exemption at 70%+ disability
How to apply: File Form PTAX-342 with your Chief County Assessment Office; a county Veteran Service Officer can help determine eligibility.
Returning Veterans' Homestead Exemption
A one-time $5,000 reduction in the EAV of a veteran's principal residence for the tax year they return from active duty in an armed conflict, plus the following tax year.
Eligibility: Illinois veteran returning from active duty in an armed conflict involving the U.S. Armed Forces who owns and occupies the property as a principal residence on January 1 of the assessment year.
Estimated value: $5,000 EAV reduction for two consecutive tax years
How to apply: File Form PTAX-341 with your Chief County Assessment Office.