Property Tax Savings for Veterans from the Assessor’s Office

Tuesday, November 8, 2022

In honor of Veterans Day, the Assessor's Office would like to express gratitude to those who have served our nation. By offering property-tax-saving exemptions for over 10,000 veteran families this year, the Assessor’s Office hopes to honor their sacrifice and service.

The Assessor’s Office administers both the Veterans with Disabilities and the Returning Veterans Exemptions, which can reduce the property tax bills of veterans.

The Veterans with Disabilities Exemption is for veterans with a service-connected disability as certified by the U.S. Department of Veterans Affairs. The exemption reduces the Equalized Assessed Value (EAV) on the primary residence of a veteran with a disability, very likely lowering the tax bill. The amounts of those EAV deductions depend on the percentage of disability. Veterans are required to apply annually.

The Returning Veterans Exemption is for veterans returning from active duty in an armed conflict who are eligible to receive a $5,000 reduction in the equalized assessed value of their property only for each taxable year in which they return. Veterans are required to apply annually.

“Veterans with significant service-related disabilities made sacrifices in their service to our country and these exemptions are a way to recognize and honor them,” said Assessor Fritz Kaegi. I am moved by the stories of veterans in Cook County who have shared how veteran exemptions have helped them obtain homeownership.”

A family who receives a veteran-related exemption shared the following story of how this benefit honors their service and helped in their journey of homeownership: “My husband and I were able to buy a house which would have been out of our price range with the property taxes in that area. We needed a larger house for our growing family and using the Veterans with Disabilities Exemption made that possible.”

The 2021 tax year exemption filing period is now closed, however, veteran homeowners who believe they may have been eligible for exemptions in prior tax years can apply for a Certificate of Error. The Certificate of Error process provides homeowners an opportunity to redeem missing exemptions for 2021, 2020, 2019, and 2018 tax years. For more information, visit www.cookcountyassessor.com/certificates-error.

Resources from the Assessor’s Office