Exemptions

Applications for exemptions are processed through the Kane County Supervisor of Assessments’ Office.  Because of the savings in tax dollars, it is important for the homeowner to be aware of available exemptions.  The Supervisor of Assessments’ Office is located at 719 South Batavia Avenue, Building C in Geneva; the office phone number is: 630-208-3818; email address is: kanesoa@co.kane.il.us  .

General Homestead Exemption
This exemption allows a $6,000 reduction from the equalized assessed value of an owner occupied residential property.

Senior Homestead Exemption
This exemption allows a further $5,000 reduction from the equalized assessed value of an owner occupied residential property for a property owner 65 years of age or older.

Senior Assessment Freeze
This exemption effectively freezes an assessment at a base year causing the net assessment not to increase. This does not freeze the taxes, only the assessment.  This exemption is granted for residential property that is occupied by an applicant who is 65 years of age or older during the tax assessment year (taxes payable in the next succeeding year), has a household income of $65,000 or less and is liable for paying real property taxes on the property.

Home Improvement Exemption
This exemption allows a maximum $24,998 reduction in the equalized assessed value (a maximum $75,000 market value) of an owner occupied residential property where an increase in assessed value is attributable solely to the new improvement of an existing structure or the rebuilding of a residential structure following a catastrophic event.  The exemption remains in effect for four years.

Maintenance and repairs to residential owner occupied property do no qualify for the Homestead Improvement Exemption.  Work is deemed repair or maintenance when it does not increase the square footage of improvements or does not materially alter the existing character and condition of the structure, but is limited to work performed to prolong the life of the existing property or to keep the existing property in a well-maintained condition.

Unlike other exemptions, new residential improvements are identified and calculated in the township assessor’s office; values eligible for the Home Improvement Exemption are then submitted to the Kane County Supervisor of Assessments Office for processing.

Returning Veteran’s Homestead Exemption
This exemption provides a one-time $5,000 reduction from the equalized assessed value of the owned residential property of a qualifying returning veteran from active duty in an armed conflict.

Disabled Veteran’s Standard Homestead Exemption
This exemption reduces the equalized assessed value (EAV) by the amount of the exemption.  Beginning with the 2015 (payable 2016) year, the reduction is:

• All EAV from the property (before taxes are calculated) for a veteran with at least a 70% service-connected disability.
• $5,000 of EAV from the property (before taxes are calculated) for a veteran with a 50%-69% service-connected disability.
• $2,500 of EAV from the property (before taxes are calculated) for a veteran with a 30%-49% service-connected disability.

Please contact the Kane County Supervisor of Assessments office to see if you qualify for this exemption.

Disabled Persons’ Homestead Exemption
This exemption allows a reduction of $2,000 from the equalized assessed value of the owner occupied residential property of the eligible taxpayer who must be “unable to engage in any substantial gainful activity by reason of a medically determinable physical or medical impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.” A person becoming disabled during an assessment year is eligible in that same year.