Transfer Of TitleTaxesMEDIUM
Illinois Senior Citizen Homestead Exemption provides additional reduction of:
Correct Answer
B) $5,000 in most counties, $8,000 in Cook County
The Senior Citizen Homestead Exemption provides an additional $5,000 reduction in most Illinois counties and $8,000 in Cook County for qualifying seniors.
Answer Options
A
$3,000B
$5,000 in most counties, $8,000 in Cook CountyC
$10,000D
$15,000Audio Lesson3 min
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Related Concepts
Various programs and exemptions exist to reduce the property tax burden for specific groups, such as seniors, homesteaders, or veterans.
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
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