General Homestead Exemption
Who qualifies
- Ownership
- Owner-occupant (or qualifying lessee liable for taxes) of the principal residence.
- Residency
- Must own or have a legal/equitable interest (or a single-family leasehold with tax liability) and occupy the property as a principal residence.
How much it saves
Worked example — a $300,000 home at Illinois's median effective rate (~1.84%):
Your county's rate differs — use the calculator for a figure tuned to where you live.
How to apply
- Application required: Yes
- Deadline: Varies by county; in most counties the exemption is granted automatically once established, Cook County requires annual application.
- Renewal: automatic — Renews automatically in most counties; Cook County requires annual renewal.
Combining with other exemptions
May be combined with the Senior Citizens Homestead Exemption, Senior Freeze, and disability/veteran exemptions.
Amount cross-checked against a second official artifact: ilga.gov/legislation/ilcs/fulltext.asp.
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.