On Sunday, Aug. 16, Illinois Gov. Bruce Rauner signed Senate Bill 107, which expands the current Disabled Veterans Property Tax Exemptions in Illinois.

And Jacob Zimmerman, superintendent of Kane County’s Veterans Assistance Commission, was pretty darned happy about it.

“We’re pleased that this legislation not only was signed into law but also passed through the General Assembly unanimously,” Zimmerman said. “It shows that our legislators recognize the hardships that veterans can face because of injuries they incurred as a result of their service to our country.”

Zimmerman said the bill contains a lot of good news, and he’s doing all he can to get the word out.

Beginning in taxable year 2015, which is for the tax bill that is payable in year 2016, veterans with a service-connected disability rating of at least 30 percent can qualify for this exemption at the following levels:

• Veterans with a VA service-connected disability rating of 30 percent or 40 percent can receive an exemption that takes $2,500 off of their primary dwelling’s equalized assessed value.
• Veterans with a VA service-connected disability rating of 50 percent or 60 percent can receive an exemption that takes $5,000 off of their primary dwelling’s EAV.
• Veterans with a VA service-connected disability rating of 70 percent or greater can receive an exemption that makes all of their primary dwelling’s EAV exempt from property taxation.

The amount of the tax savings will depend on each property’s tax rate. For instance, a qualifying disabled veteran with a VA disability rating of 40 percent would qualify for a $2,500 exemption; at a 10 percent tax rate, this would result in $250 of property tax savings annually — and this tax savings never needs to be repaid.

To be eligible, the property must be the principal residence of the disabled veteran that is not used for commercial purposes, with an equalized assessed value of less than $250,000, and you must apply through the Kane County Assessment Office with a form that will be available within the next 30 days.

In addition to the form, you will need to attach a current letter from the VA certifying your percentage of disability. If you do not have a current letter, you can schedule an appointment to obtain the letter by calling the Veterans Assistance Commission at 630-232-3550.

If it is your first time applying for the exemption, you will also need to bring your DD-214. As of the end of the 2014 Federal Fiscal Year there were 24,787 veterans in Kane County, with 391 being 30 percent or 40 percent disabled, 290 being 50 percent or 60 percent disabled, and 677 being 70 percent or more disabled.

For more detailed information on eligibility, please see Public Act 099-0375.

SOURCE: Kane County Veterans Assistance press release