Do You Qualify?
Annual Homestead Exemption (AHE)
The annual homestead exemption lowers the equalized assessed value of an owner occupied residence. A residential property must be owner occupied as of January 1st of the assessment year to qualify. The exemption may be prorated for new construction. The current exemption amount is 6,000. For the 2023 tax year the exemption amount has been increased to 8,000.
If you qualify, check your tax bill to verify if you have received an annual homestead exemption.
Homestead Improvement Exemption (HIE)
The homestead improvement exemption defers for four years any increase in the assessment of your property due to a home improvement for which the township assessor would add value. A residential property must be owner occupied to qualify. The maximum homestead improvement exemption amount is $75,000 market value (which would result in a maximum assessment exemption of $25,000)
Senior Citizens Homestead Exemption
The senior citizens homestead exemption lowers the equalized assessed value of an owner occupied primary residence.
- A residential property must be the owner occupied primary residence.
- The residence must be occupied by a person who has reached the age of 65 during or prior to the assessment year.
If you qualify, check your tax bill to verify if you have received a senior citizens homestead exemption.
The exemption amount is $5,000. For the 2023 tax year the exemption amount has been increased to 8,000.
Apply for the senior citizens homestead exemption (bring proof of age) to:
McHenry County Supervisor of Assessment Office (815) 334-4290
Location Address: Administration Bldg. 667 Ware Road, Suite 106, Woodstock, IL 60098
Mailing Address: 2200 N. Seminary Avenue, Woodstock, IL 60098
Senior Citizens Assessment Freeze Homestead Exemption
The senior citizens assessment freeze exemption freezes the assessment of an owner occupied primary residence. This exemption does not freeze the tax rate. A residential property owner must fulfill the requirements as explained on the application form (PTAX 340) The residence must be occupied by a person who has reached age 65 during or prior to the assessment year. The maximum household income is currently $65,000. Maximum household income includes that of all persons using the property as their principal dwelling place as of January 1st of the assessment year. Please note that this exemption must be renewed annually (mark your calendar every year).
If you qualify, check your tax bill to verify if you have received the senior citizens assessment freeze.
Apply for the senior citizens assessment freeze homestead exemption at: McHenry County Supervisor of Assessment Office (815) 334-4290
Location Address: Administration Bldg, 667 Ware Road, Suite 106, Woodstock, IL 60098
Mailing Address: 2200 N. Seminary Avenue, Woodstock, IL 60098
Other common exemptions include:
- Disabled Veterans Exemption
- Homestead Exemption for Veterans with Disabilities
- Returning Veterans Exemption
- Disabled Persons Exemption