Mercer Township Assessor

Property Tax Exemptions Available to the Property Owner

Illinois law provides property owners with a series of exemptions which have the effect of lowering the assessed value of the property you own. Below is a list describing those exemptions which are available and what qualifications are required to be eligible.

1) General Homestead /Owner Occupied Exemption: Could lower the equalized assessed value of the property by $6,000. To qualify, you must live in the home, it must be your primary residence, and you must own or have a legal equitable interest in the property by Jan 1 of the year exemption is applied.

2) Homestead Improvement Exemption: If you make a qualified improvement to the home you own and occupy, an assessment increase due to that improvement may be kept off the tax rolls for 4 years. There is an annual maximum of $75,000 assessed value that may be exempted.

3) Senior Citizens Homestead Exemption: Persons age 65 or older who meet the qualifications for the General Homestead Exemption may receive a $4,000 reduction in equalized assessed value of their home.

4) Senior Citizens Assessment Freeze Homestead Exemption: This exemption freezes your property’s prior year equalized assessed value. If you qualify for the Senior Citizens Homestead Exemption and your total household income is $55,000 or less, and you have lived in your home for a complete tax year (Jan 1 to Jan 1), or if you live in an assisted living facility, you may qualify for this exemption.

5) Returning Veterans’ Homestead Exemption: This exemption provides a $6,000 reduction on the of the principal residence’s equalized assessed value. To qualify, you must be an Illinois resident who has served as a member of the U.S. Armed Forces, Illinois National Guard, or U.S. Reserve Forces; return from active duty in an armed conflict; be liable for the payment of the property taxes; and have legal equitable interest in the property as your principal residence.

Additionally, the following 3 exemptions are available: (A person is only allowed one of the following exemptions in a tax year): Disabled Veterans’ Standard Homestead Exemption ; Disabled Person’s Homestead Exemption ; Disabled Veterans’ Exemptions. For more information on these exemptions, or to file for any of these exemptions, you may contact the Mercer County Supervisor of Assessments office at (309) 582-7814 or 100 SE 3rd Street, Aledo, IL 61231.



Helping you understand all aspects of the property assessment process is our priority !