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Property Tax Exemptions

  

DO YOU QUALIFY ?

Annual Homestead Exemption

  • The annual homestead exemption lowers the equalized assessed value of an owner occupied residence
  • A residential property must be owner occupied as of January 1st of the assessment year to qualify
  • The exemption may be prorated for new construction
  • Exemption amount of $6,000
    • If you qualify, check your tax bill to verify if you have received an annual homestead exemption

Homestead Improvement Exemption

  • The homestead improvement exemption defers for four years any increase in the assessment of your property due to a home improvement for which the township assessor would add value
  • A residential property must be owner occupied to qualify
  • The maximum homestead improvement exemption amount is $75,000 market value (which would result in a maximum assessment exemption of $25,000)

Senior Citizens Homestead Exemption

  • The senior citizens homestead exemption lowers the equalized assessed value of an owner occupied residence
  • A residential property must be owner occupied
  • The residence must be occupied by a person who has reached age 65 during or prior to the assessment year
  • If you qualify, check your tax bill to verify if you have received a senior citizens homestead exemption
  • Exemption amount of $5,000

Apply for the senior citizens homestead exemption (bring proof of age) at either:

McHenry County Supervisor of Assessment Office
(815) 334-4290

Location Address:
Administration Bldg
667 Ware Road, Suite 106
Woodstock, IL 60098

Mailing Address:
2200 N.Seminary Avenue
Woodstock, IL 60098

or

Dorr Township Assessment Office
Please call: (815) 338-0128 for an appointment
1039 Lake Avenue
Woodstock, IL 60098
 

Senior Citizens Assessment Freeze Homestead Exemption

  • The senior citizens assessment freeze exemption freezes the assessment of an owner occupied primary residence.  This exemption does not freeze the tax rate.
  • A residential property owner must fulfill the requirements as explained on the application form (PTAX 340)
  • The residence must be occupied by a person who has reached age 65 during or prior to the assessment year
  • The maximum household income is currently $55,000.
  • Maximum household income includes that of all persons using the property as their principal dwelling place as of January 1st of the assessment year
  • Please note that this exemption must be renewed annually (mark your calendar every year)
  • If you qualify, check your tax bill to verify if you have received the senior citizens assessment freeze.
Apply for the senior citizens assessment freeze homestead exemption at:

McHenry County Supervisor of Assessment Office
(815) 334-4290

Location Address:
Administration Bldg
667 Ware Road, Suite 106
Woodstock, IL 60098

Mailing Address:

2200 N. Seminary Avenue
Woodstock, IL 60098
 

Senior Citizens Real Estate Tax Deferral Program

  • The senior citizens real estate tax deferral program allows senior citizens to defer payment of all of the property taxes on their primary owner occupied residence (please note that joint ownership under this program is limited to you and your spouse)
For further information and/or to apply for the senior citizens real estate tax deferral program contact:

McHenry County Treasurer

(815) 334-4260

Location Address:
2100 N. Seminary Avenue
Woodstock, IL 60098

Mailing Address:
2200 N. Seminary Avenue
Woodstock, IL 60098


 

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