Illinois Senior Property Tax Exemption Guide (2026)
Last Updated: April 2026
Illinois offers three layered programs for senior homeowners: the Senior Homestead Exemption, the Senior Assessment Freeze, and the Circuit Breaker credit. Most seniors qualify for at least two.
Illinois Senior Property Tax Programs Overview
| Program | Benefit | Income Limit | Form |
|---|---|---|---|
| Senior Homestead Exemption | Up to $8,000 assessed value reduction | None | PTAX-324 |
| Senior Assessment Freeze | Freezes assessed value | $65,000 | PTAX-340 (annual) |
| Circuit Breaker Credit | Grant up to $700 | $30,700 (single) | Illinois tax return |
Senior Homestead Exemption
The Senior Homestead Exemption reduces the assessed value of your home by $5,000 statewide, or $8,000 in Cook County. This reduction is applied before the tax rate is calculated. There is no income limit — any Illinois homeowner 65 or older who occupies the property as their primary residence qualifies.
Apply once with your county assessor (PTAX-324). Most counties automatically renew after the initial approval, but check with your local assessor to confirm.
Senior Assessment Freeze (PTAX-340)
For seniors with household income under $65,000, the Senior Citizens Assessment Freeze Homestead Exemption (commonly called the "Senior Freeze") locks your home's assessed value at the level it was when you first qualified. This means that even if your home's market value increases significantly, you are not taxed on the increased assessed value.
Unlike Texas's freeze, this does not directly freeze your tax bill — it freezes your assessment. If local tax rates rise, your bill can increase slightly. But it fully protects you from the assessment growth that drives most tax bill increases in high-appreciation areas.
Important: You must reapply every single year with Form PTAX-340. Missing the annual reapplication deadline forfeits the freeze for that year.
How to Apply
- Contact your County Assessor's Office or visit their website to download current forms.
- File PTAX-324 for the Senior Homestead Exemption (one-time, then verify annual renewal).
- If your income is under $65,000, also file PTAX-340 for the Assessment Freeze — and set a reminder to refile every year.
- Deadlines vary by county; most fall between January and July. Cook County deadlines may differ from downstate counties.
Frequently Asked Questions
What is the Illinois Senior Homestead Exemption?
The Senior Homestead Exemption reduces your home's assessed value by up to $8,000 (in Cook County) or $5,000 (in other counties). You must be 65 or older, own and occupy the home as your primary residence, and apply annually with your county assessor. There is no income limit for this exemption.
How does the Senior Assessment Freeze work?
The Senior Assessment Freeze (PTAX-340) freezes the assessed value of your home at its level when you first qualify. This prevents your assessment from rising in future years due to market appreciation. Unlike Texas's freeze, it does not freeze your actual tax bill — if local tax rates increase, your bill can still rise slightly. Income limit is $65,000 household.
Is the Senior Assessment Freeze automatic after the first year?
No. Illinois requires you to reapply for the Assessment Freeze every year. This is a common source of lost benefits — seniors who applied once assume it renews automatically, but it does not. Put a reminder on your calendar to reapply each year by your county's deadline.
What forms do I file in Illinois?
For the Senior Homestead Exemption, file PTAX-324 with your county assessor. For the Senior Assessment Freeze, file PTAX-340 annually. Cook County has its own equivalent forms — check the Cook County Assessor's website for the current versions.