Update 8/4/09: Info on reducing your home’s assessed value
I’m sure everyone loves to pay real estate taxes but if you would love to pay a little bit less in real estate taxes check out the table below to see if you qualify for any reductions.
If you only own 1 home, then there is a VERY high chance that you should be taking advantage of the Owner Occupied or Homestead Exemption. In Champaign County this saves you a few hundred dollars a year depending on your location. If you have questions on this feel free to contact me, the Champaign County Assessor, or your tax professional for more info.
| Exemption | Assessment Reduction | Criteria/Details |
| Owner Occupied Exemption | $5500 | You own it and you live in it as your principal residence |
| 65+ Exemption | $4000 | 65 years old as of Dec 31st of the assessed year |
| Homestead Improvement Exemption | Up to $75,000 in Assessed Value for 4 years | Have you made substantial improvements to your home increasing the assessed value? |
| Returning Veterans Exemption | 1-time $5000 reduction | Available the year a veteran returns from active duty |
| Disabled Veterans Exemption | Up to $5000 | Based on a ‘service connected disability’ and the level of disability |
| Disabled Persons Exemption | Up to $2000 | Specific Criteria established by the Champaign County Assessor |
There is also a tax assessment freeze available for those 65 and older that meet certain income requirements. You can read a bit more on the Senior Assessment Freeze here.
Interested in looking up your current Champaign County tax bill? Check it here.
If you are interested in owning a home in Champaign, Urbana, Savoy or any other community in Champaign County check out www.ChampaignExperts.com
Your Local Real Estate Experts!
Mark Waldhoff — CRS, GRI, ePro Keller Williams Realty — The Real Estate Center of Illinois 821 S. Neil Street, Champaign, IL 61820 Office: 217-239-7114 — Mark@ChampaignExperts.com
Champaign County Real Estate 