As of last week, over 50,000 senior homeowners in Cook County have not reapplied for property tax savings in which they are entitled to receive. The Cook County Assessor’s Office administers property tax savings, called exemptions. Exemptions contribute to lowering a homeowner’s property tax bill. These savings are especially important for senior homeowners as they can provide thousands of dollars of savings on their property tax bill. Automatic renewals related to COVID-19 ended this year. Senior homeowners need to resume annual filings for the Low-Income Senior Citizens Assessment Freeze, previously named “Senior Freeze.” Senior homeowners are eligible for this exemption if they are over 65 years of age and have a total household annual income of $65,000 or less. A “Senior Freeze” Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property. This does not automatically freeze the amount of their tax bill, only the EAV remains at the fixed amount, which keeps their assessment lower. Homeowners need to reapply by Friday, Aug. 4th, 2023, and can now do so online by visiting, www.cookcountyassessor.com/exemptions. Applying online is easy, free, and can be done in under ten minutes. Application forms can be downloaded in English, Spanish, Polish, and simplified Chinese languages. For a list of upcoming in-person and virtual outreach events visit, www.cookcountyassessor.com/event-list.
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