About Exemptions
General Homestead Exemption
For tax years 2020 and 2021 this exemption is $6,000.
To receive this exemption, you must:
- Have lived on the property, which is your principal residence, on or before January 1 of the tax year; otherwise, the value may be assessed for the portion of the year that it was owner occupied.
The Township Assessor’s office initiates this exemption.
Homestead Improvement Exemption
This is a four year exemption which prevents the Township Assessor from increasing your assessment due to additions or improvements to your property.
- A maximum of $25,000 of assessed value or $75,000 “Market Value” may be deferred under this program.
- The property has to be the taxpayer’s principal residence.
- Two different improvements on the same property can run concurrently as long as $45,000 is not exceeded.
The Township Assessor’s office initiates this exemption.
Senior Homestead Exemption
This exemption lowers the equalized assessed value of your property by $5,000, and may be claimed in addition to the General Homestead Exemption.
To receive this exemption, you must:
- Have lived on the property, which is your principal residence, on or before January 1 of the tax year; otherwise, the value may be assessed for the portion of the year that it was owner occupied by a senior citizen.
- Have reached age 65 anytime during the tax year.
- Apply for the exemption at the Township Assessor’s office. You will need to bring proof of age (a drivers license is sufficient), a copy of the property’s deed, and your tax bill with you when you apply. If your property is in a trust, you will also need a copy of the trust agreement indicating the beneficiary.
First-time applicants can obtain forms online Senior Homestead Exemption Form (pdf), from the Frankfort Township Assessor’s Office or the Will County Supervisor of Assessments. Your completed application must be returned to either the:
Frankfort Township Assessor
11000 W. Lincoln Hwy
Frankfort, IL 60423
(815) 464-3180
OR
Supervisor of Assessments
302 N. Chicago Street
Joliet, Illinois 60432-4059
(815) 740-4648
Other Senior Programs
Senior Citizens Assessment Freeze Exemption
This exemption freezes the assessment on your property if your total household income is $65,000 or less.
This exemption may be claimed in addition to those described above. This exemption does not freeze your tax rate; you need to understand that the actual taxes which you pay may continue to increased based upon the amounts levied by the taxing bodies where you reside (school, park, village or city, township, etc.).
The filing deadlines for this exemption is July 1 of each year. To receive this exemption you must:
- Have fulfilled a property residency requirement as explained on the application form.
- Be age 65 or older.
- Have a maximum household income of $65,000. This household income includes that of all persons using the property as their principal dwelling place on January 1 of the tax year.
- Please note that this exemption is income based and therefore, must be renewed annually. The Supervisor of Assessments for the County mails applications to all taxpayers receiving the Senior Homestead Exemption.
First-time applicants can obtain forms online Senior Citizens Assessment Freeze Form (pdf), from the Frankfort Township Assessor’s Office or the Will County Supervisor of Assessments. Your completed application must be notarized and returned to either the:
Frankfort Township Assessor
11000 W. Lincoln Hwy.
Frankfort, IL 60423
(815) 464-3180
OR
Supervisor of Assessments
302 N. Chicago Street
Joliet, Illinois 60432-4059
(815) 740-4648
Other Senior Programs
Senior Citizens Real Estate Tax Deferral Program
Available to qualified seniors 65 or over with a total household income of $55,000 or less, who have lived in the property for at least three years and have no delinquent property taxes or assessments due on the property. Deferred taxes are paid by the state with repayment, plus interest, due upon settlement of estate or sale of the property. Applicants can obtain forms from the:
Will County Treasurer’s Office
302 North Chicago Street
Joliet, IL 60432
(815) 740-4675
Disabled Persons’ Homestead Exemption
This exemption lowers the equalized assessed value of your property by $2,000 starting in tax year 2007, and may be claimed in addition to the Homestead Limited Exemption and the Senior Citizen Homestead Exemptions, if applicable. This exemption cannot be claimed in addition to the Disabled Veterans’ Standard Homestead Exemption or the Disabled Veterans’ Exemption of $70,000; you can only receive one of these exemptions and, if you are a veteran, you should choose to apply for the one most beneficial to you. To receive this exemption, you must:
- Have lived on the property on or before January 1 of the tax year; otherwise, the value may be assessed for the portion of the year that it was owner occupied by a qualified disabled person.
- Be disabled under the Federal Social Security Act.
- Supply a copy of your Illinois Disabled Person Identification Card stating that you are under a Class 2 disability (for each year you qualify).
• Please note that this exemption may require annual renewal. We are awaiting clarification on this from the Illinois Department of Revenue.
First-time applicants can obtain forms online Disabled Person’s Homestead Form PDF, Renewal Form PDF, Physician’s Statement PDF from the Frankfort Township Assessor’s Office or the Will County Supervisor of Assessments. Completed applications must be returned to:
Frankfort Township Assessor
11000 W. Lincoln Hwy.
Frankfort, Il 60423
(815) 464-3180
OR
Supervisor of Assessments
302 N. Chicago Street
Joliet, Illinois 60432-4059
(815) 740-4648
Disabled Veterans’ Standard Homestead Exemption
This exemption started in tax year 2007. A disabled veteran with at least 70% or more, then the residential property is exempt from taxation under this Code. (Note: The property’s total EAV must be less than $250,000 after subtracting any portion used for commercial purposes. “Commercial purposes” include any portion of the property rented for more than 6 months.)
If the veteran has a service-connected disability of 30% or more but less than 50%, then the annual exemption is $2,500; if the veteran has a service-connected disability of 50% or more but less than 70%, then the annual exemption is $5,000
This exemption may be claimed in addition to the General Homestead Limited Exemption and the Senior Citizen Homestead Exemption, if applicable; however, it cannot be claimed in addition to the Disabled Veteran Exemption of $70,000 or the Disabled Persons’ Homestead Exemption. To receive this exemption, you must:
- be an Illinois resident who served as a member of the U.S. Armed Forces on active duty or state active duty, Illinois National Guard, or U.S. Reserve Forces, and who has an honorable discharge;
- have at least a 30 percent service-connected disability certified by the U.S. Department of Veterans’ Affairs; and
- own and occupy the property as the primary residence on January 1 of the assessment year or lease and occupy a single family residence on January 1 of the assessment year and be liable for the payment of the property taxes to the county.
Please note that this exemption requires annual renewal.
The current Disabled Veterans’ Homestead Exemption that provides up to a $70,000 reduction in assessed value for federally-approved specially adapted housing will continue to be available through the local Veterans’ Affairs Office.
Applicants can obtain forms online Disabled Veteran Homestead Form PDF, Renewal Form PDF, from the Frankfort Township Assessor’s Office or the Will County Supervisor of Assessments. Completed applications must be returned to:
Frankfort Township Assessor
11000 W. Lincoln Hwy.
Frankfort, Il 60423
(815) 464-3180
OR
Supervisor of Assessments
302 N. Chicago Street
Joliet, Illinois 60432-4059
(815) 740-4648
Returning Veteran Homestead Exemption
This exemption started in tax year 2007. It lowers the Equalized Assessed Value of your property by $5,000 a year for the first two years you return from active duty in an armed conflict. You are only required to fill this form out once when you return from active duty and the exemption will carry over to the second year. It can be claimed in addition to the General Homestead, Limited Exemption and any applicable Senior Citizen Exemption. To receive this exemption, you must:
- Use the property as your principal residence.
- Supply a copy of your DD214, if applicable; otherwise, a copy of your most recent military orders .
Applicants can obtain forms online Returning Veteran Homestead Exemption, from the Frankfort Township Assessor’s Office or the Will County Supervisor of Assessments. Completed applications must be returned to:
Frankfort Township Assessor
11000 W. Lincoln Hwy.
Frankfort, Il 60423
(815) 464-3180
OR
Supervisor of Assessments
302 N. Chicago Street
Joliet, Illinois 60432-4059
(815) 740-4648
NOTE: A disabled person’s or disabled veteran’s property can receive only one of the following exemptions each year: Disabled Veterans’ Exemption (35 ILCS 200/15-165), Disabled Persons’ Homestead Exemption (35 ILCS 200/15-168) or the Disabled Veterans’ Standard Homestead Exemption (35 ILCS 200/15-169).