Returning Veterans' Homestead Exemption
$5,000 reduction in Equalized Assessed Value for two years for veterans returning from active duty in armed conflict.
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Apply directly through the official Illinois agency.
About this benefit
Eligibility
Veteran returning from active duty in an armed conflict involving U.S. forces; must own and occupy property as primary residence in Illinois.
Exemption
$5,000 reduction in EAV for two consecutive tax years (the year of return and the following year).
How to apply
File PTAX-341 with the county Supervisor of Assessments. Must be reestablished annually.
Verified against official source
Last checked 2026-05-04 against tax.illinois.gov. Always confirm current rates and rules with the Illinois state agency before applying.
Other Illinois Tax Benefits
Property Tax Exemption (30-49% Disabled)
$2,500 reduction in Equalized Assessed Value for veterans with 30-49% disability rating.
$2,500 off assessed value
Property Tax Exemption (50-69% Disabled)
$5,000 reduction in Equalized Assessed Value for veterans with 50-69% disability rating.
$5,000 off assessed value
Property Tax Exemption (70%+ Disabled)
Exemption on the first $250,000 of EAV for veterans with 70%+ disability rating, effectively a full exemption for most homes.
Up to $250,000 EAV exempt
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