Algonquin Township

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Robert R Kunz, Jr, Assessor

Certified Illinois Assessing Officer

The following is a list of the property tax relief available to seniors in Algonquin Township.

Senior Citizen's Homestead Exemption

A $2000 reduction in the assessed value of property. To qualify for this exemption a person must be 65 years of age or older during the taxable year for which the application is made and must be the owner of record or person with equitable interest in the property. Information and applications for this exemption are available from the Algonquin Township Assessor's Office or from the Supervisor of Assessments, 2200 N Seminary Avenue, Woodstock, IL 60098.

Senior Citizen Assessment Freeze Homestead Exemption

Allows qualified senior citizens to elect to maintain the equalized assessed value of their home at the base year value and prevent any increase due to inflation. The base year is the year prior to the year you first qualify and apply for the exemption. The assessment freeze exemption does not freeze the amount of your property tax bill, which will still increase if the tax rate increases. To qualify you must be 65 years of age or older during the taxable year and have a total household income of no more than $35,000. You must have owned the property or had legal or equitable interest in the property, or had a leasehold interest in the residence, be liable for the payment of property taxes and have used the property as your principal place of residence. The application must be made by July 1. Information and applications are available from the Supervisor of Assessments, 2200 N Seminary Avenue, Woodstock, IL 60098.

General Homestead Exemption

Reduction in equalized assessed value up to $3500. Available for all owner-occupied residences. No age requirement. You should already be receiving this. Check your last tax bill. If not, contact the Algonquin Township Assessor.

Home Improvement Exemption

Reduction in assessed value increase, up to $10,000, caused by new improvement to existing structure. Available for all owner-occupied residences. No age requirement. Contact the Algonquin Township Assessor.

Circuit Breaker

Qualifying applicants can receive a grant of $1 to $700. Available to persons over age 65 and those disabled over age 16. Household income less than $14,000. Application must be made by December 31st. Contact Illinois Department of Revenue, PO Box 19003, Springfield, IL 62794. (800)624-2459.

Senior Citizens Real Estate Tax Deferral

Allows qualified seniors to defer all or part of property tax on their owner-occupied residence. It's a form of loan with a six pecent interest rate which is repaid after the taxpayer's death or at the time the property is sold. Must be at least 65 years of age by June 1, household income not more than $25,000 and occupied the property for at least three years. Must file by March 1. Information and applicaitions are available from the McHenry County Collector, 2200 N Seminary Avenue, Woodstock, IL 60098. (815) 334-4260.

If you have any questions whatsoever regarding your tax assessment or the options available to you as a senior, please feel free to contact the Algonquin Township Assessor.