Benefit: This exemption lowers the equalized assessed value of the property by $5,000. This exemption may be claimed in addition to the General Homestead Exemption.
To qualify, applicants must:
Be 65 years of age or older
Own and live in the property as their principal residence
Applications can be filed with the Chief County Assessment Office or the local township assessor's office. There is no annual renewal for this exemption. Applicants will need to provide proof of age ( ex. driver's license, state ID), and proof of ownership (copy of the deed).
When you are applying for a new exemption and the property is held in trust, we must verify that the applicant is a beneficiary of that trust. The exemptions cannot be applied without this verification. Please include a copy of that part of the actual trust agreement which states that the applicant is a beneficiary. This can usually be found on the first few pages of the trust document. Should you have any questions, please feel free to contact us directly at 847-377-2100.