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1 | | 2007 through 2009 and (ii) 70% for exemptions granted in |
2 | | taxable years year 2010 through 2013 and each taxable year |
3 | | thereafter , as certified by the United States Department of |
4 | | Veterans Affairs, the annual exemption is $5,000; and |
5 | | (2) for veterans with a service-connected disability |
6 | | of at least 50%, but less than (i) 75% for exemptions |
7 | | granted in taxable years 2007 through 2009 and (ii) 70% for |
8 | | exemptions granted in taxable years year 2010 through 2013 |
9 | | and each taxable year thereafter , as certified by the |
10 | | United States Department of Veterans Affairs, the annual |
11 | | exemption is $2,500. |
12 | | (b-3) For taxable years 2014 and thereafter, the amount of |
13 | | the exemption under this Section is as follows: |
14 | | (1) for veterans with a service-connected disability |
15 | | of at least 30% but less than 50%, as certified by the |
16 | | United States Department of Veterans Affairs, the annual |
17 | | exemption is $2,500; |
18 | | (2) for veterans with a service-connected disability |
19 | | of at least 50% but less than 70%, as certified by the |
20 | | United States Department of Veterans Affairs, the annual |
21 | | exemption is $5,000; and |
22 | | (3) for veterans with a service-connected disability |
23 | | of at least 70%, as certified by the United States |
24 | | Department of Veterans Affairs, the property is exempt from |
25 | | taxation under the Code. |
26 | | (b-5) If a homestead exemption is granted under this |
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1 | | Section and the person awarded the exemption subsequently |
2 | | becomes a resident of a facility licensed under the Nursing |
3 | | Home Care Act or a facility operated by the United States |
4 | | Department of Veterans Affairs, then the exemption shall |
5 | | continue (i) so long as the residence continues to be occupied |
6 | | by the qualifying person's spouse or (ii) if the residence |
7 | | remains unoccupied but is still owned by the person who |
8 | | qualified for the homestead exemption. |
9 | | (c) The tax exemption under this Section carries over to |
10 | | the benefit of the veteran's
surviving spouse as long as the |
11 | | spouse holds the legal or
beneficial title to the homestead, |
12 | | permanently resides
thereon, and does not remarry. If the |
13 | | surviving spouse sells
the property, an exemption not to exceed |
14 | | the amount granted
from the most recent ad valorem tax roll may |
15 | | be transferred to
his or her new residence as long as it is |
16 | | used as his or her
primary residence and he or she does not |
17 | | remarry. |
18 | | (d) The exemption under this Section applies for taxable |
19 | | year 2007 and thereafter. A taxpayer who claims an exemption |
20 | | under Section 15-165 or 15-168 may not claim an exemption under |
21 | | this Section. |
22 | | (e) Each taxpayer who has been granted an exemption under |
23 | | this Section must reapply on an annual basis. Application must |
24 | | be made during the application period
in effect for the county |
25 | | of his or her residence. The assessor
or chief county |
26 | | assessment officer may determine the
eligibility of |
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1 | | residential property to receive the homestead
exemption |
2 | | provided by this Section by application, visual
inspection, |
3 | | questionnaire, or other reasonable methods. The
determination |
4 | | must be made in accordance with guidelines
established by the |
5 | | Department. |
6 | | (f) For the purposes of this Section: |
7 | | "Qualified residence" means real
property, but less any |
8 | | portion of that property that is used for
commercial purposes, |
9 | | with an equalized assessed value of less than $250,000 that is |
10 | | the disabled veteran's primary residence. Property rented for |
11 | | more than 6 months is
presumed to be used for commercial |
12 | | purposes. |
13 | | "Veteran" means an Illinois resident who has served as a
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14 | | member of the United States Armed Forces on active duty or
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15 | | State active duty, a member of the Illinois National Guard, or
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16 | | a member of the United States Reserve Forces and who has |
17 | | received an honorable discharge. |
18 | | (Source: P.A. 96-1298, eff. 1-1-11; 96-1418, eff. 8-2-10; |
19 | | 97-333, eff. 8-12-11.)".
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