Available Exemptions:
General Homestead Exemption (Owner Occupied)
The qualifications for the General Homestead Exemption require that you own the home and occupy it as your principle residence, and are responsible for payment of property taxes. The exemption is $6,000 reduction in assessed valuation.
Senior Citizens Homestead Exemption
The qualifications for the Senior Citizens Homestead Exemption require that you own the home and occupy it as your principle residence, are responsible for payment of property taxes, and are 65 years of age or older. The exemption is a $5,000 reduction in assessed valuation. Application for this exemption must be filed in the Morgan County Assessor’s Office.
PTAX 324
Senior Citizens Assessment Freeze Homestead Exemption
The qualifications for the Senior Citizens Assessment Freeze Homestead Exemption require the same as the Senior Citizens Homestead Exemption with the addition of having a household income of $65,000 or less. Property owners must have lived in their home for two January 1’s to apply (Applications year and prior year). The exemption does not freeze taxes, but rather freezes the net taxable value on the tax bill. The exemption establishes a base assessment the first year in which you apply. Assessment increases the following years form the amount of the exemption and change from year to year.
Example:
40,000 (Current Assessment) – 30,000 (Base Assessment) = 10,000 (Exemption Amount)
Property taxes will still change from year to year based on changes to the tax rates, but this change should be minimal.
PTAX 340
Disabled Person’s Homestead Exemption
The Disabled Person’s Homestead Exemption is for property owners who own their home and have become unable to engage in employment due to their disability, for a period of not less than 12 months. An application for the exemption must be filed with the Morgan County Assessor’s Office with a proof of ownership and proof of disability.
The exemption is a $2,000 deduction off the assessed valuation of the property. Call the assessor’s office for list of qualifying proof of disability.
PTAX 343, PTAX 343A, PTAX 343R
Disabled Veterans Homestead Exemption
The Disabled Veterans Homestead Exemption is a $70,000 reduction in assessed valuation for federally-approved specially adapted housing of a qualified disabled veteran’s residence. Veterans should contact their local Veteran’s Office for information regarding this exemption.
Disabled Veterans Standard Homestead Exemption
The Disabled Veterans Standard Homestead Exemption is for disabled veterans whose disability is more than 30%. There are three levels, 1) disabled veterans with a disability percentage between 30 and 49%, a $2500 exemption is granted. 2) Veterans with a disability between 50% and 69%, a $5000 exemption is granted. 3) Veterans with a disability of 70% or more will receive a full exemption from taxes. Qualifications for this exemption are that you are an Illinois resident, have a disability of 30% or more, and own or lease your property and use it as your primary residence. This exemption may carry over to a surviving spouse of a disabled veteran. Applications and more information may be obtained by contacting the Morgan County Assessor’s Office.
PTAX 342, PTAX 342R
Returning Veterans Homestead Exemption
The Returning Veterans Homestead Exemption is for veterans returning from active duty in an armed conflict involving the armed forces of the US. The exemption is a one time $5,000 deduction from the assessed valuation on the tax bill. Applications and more information may be obtained from the Morgan County Assessor’s Office.
PTAX 341
Homestead Improvement Exemption
The Homestead Improvement Exemption is a 4 year exemption with a maximum amount of $25,000 in assessed valuation. The exemption is for new improvements to an existing structure or for rebuilding of a residential structure following a catastrophic event. Applications and more information may be obtained from the Morgan County Assessor’s Office.
PTAX 323
Questions concerning applications or other information about the assessor’s office may be obtained by contacting the office or coming into the office.