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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | |||||||||||||||||||
5 | Section 15-169 as follows: | |||||||||||||||||||
6 | (35 ILCS 200/15-169)
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7 | Sec. 15-169. Disabled veterans standard homestead | |||||||||||||||||||
8 | exemption. | |||||||||||||||||||
9 | (a) Beginning with taxable year 2007, an annual homestead | |||||||||||||||||||
10 | exemption, limited to the the amounts set forth in subsection | |||||||||||||||||||
11 | (b), is granted for property that is used as a qualified | |||||||||||||||||||
12 | residence by a disabled veteran. | |||||||||||||||||||
13 | (b) The amount of the exemption under this Section is as | |||||||||||||||||||
14 | follows: | |||||||||||||||||||
15 | (1) for veterans with a service-connected disability | |||||||||||||||||||
16 | of at least 75%, as certified by the United States | |||||||||||||||||||
17 | Department of Veterans Affairs, the annual exemption is | |||||||||||||||||||
18 | $5,000; and | |||||||||||||||||||
19 | (2) for veterans with a service-connected disability | |||||||||||||||||||
20 | of at least 50%, but less than 75%, as certified by the | |||||||||||||||||||
21 | United States Department of Veterans Affairs, the annual | |||||||||||||||||||
22 | exemption is $2,500. | |||||||||||||||||||
23 | (c) The tax exemption under this Section carries over to |
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1 | the benefit of the veteran's
surviving spouse as long as the | ||||||
2 | spouse holds the legal or
beneficial title to the homestead, | ||||||
3 | permanently resides
thereon, and does not remarry. If the | ||||||
4 | surviving spouse sells
the property, an exemption not to exceed | ||||||
5 | the amount granted
from the most recent ad valorem tax roll may | ||||||
6 | be transferred to
his or her new residence as long as it is | ||||||
7 | used as his or her
primary residence and he or she does not | ||||||
8 | remarry. | ||||||
9 | (d) The exemption under this Section applies for taxable | ||||||
10 | year 2007 and thereafter. A taxpayer who claims an exemption | ||||||
11 | under Section 15-165 or 15-168 may not claim an exemption under | ||||||
12 | this Section. | ||||||
13 | (e) Application must be made during the application period
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14 | in effect for the county of his or her residence. The assessor
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15 | or chief county assessment officer may determine the
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16 | eligibility of residential property to receive the homestead
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17 | exemption provided by this Section by application, visual
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18 | inspection, questionnaire, or other reasonable methods. The
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19 | determination must be made in accordance with guidelines
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20 | established by the Department. | ||||||
21 | (f) For the purposes of this Section: | ||||||
22 | "Qualified residence" means real
property, but less any | ||||||
23 | portion of that property that is used for
commercial purposes, | ||||||
24 | with an equalized assessed value of less than $250,000 that is | ||||||
25 | the disabled veteran's primary residence. Property rented for | ||||||
26 | more than 6 months is
presumed to be used for commercial |
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1 | purposes. | ||||||
2 | "Veteran" means an Illinois resident who has served as a
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3 | member of the United States Armed Forces on active duty or
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4 | State active duty, a member of the Illinois National Guard, or
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5 | a member of the United States Reserve Forces and who has | ||||||
6 | received an honorable discharge.
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7 | (Source: P.A. 95-644, eff. 10-12-07.)
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