Homestead Exemptions reduce the taxable value of a property by a specific amount prior to taxes being calculated; the actual tax savings depends upon the tax rate for a specific property.  They are typically available for properties that are occupied by their owners or persons with legal or equitable interest as of January 1 of the taxable year.

Example of the Impact of Exemptions

Each exemption reduces the tax burden of a qualifying property by reducing its taxable value. In Kane County, tax rates generally range from about 6.50% to 11.25%, with a median rate of 9.00%; they can be higher in special-service areas.
In the following example, a senior citizen homeowner lives in a house with a fair cash value of $225,000; the homeowner is living off savings, and has an income that qualifies for the senior freeze with a base-year EAV of $56,657. The benefits of the available homestead exemptions, based on a property tax rate of 9.0%, are: ​

​Without Exemptions

​​With Exemptions
​Property Value

​Level of Assessment 
​Equalized Assessed Value

​   General 

​   Senior Citizen 
​   Senior Freeze  ($56,657 base year)​

​Net Valuation
​Estimated Tax Rate
​X   9.00%
​X   9.00%
​Tax Dollars Due
​​Total Tax Savings from exemptions​: $3,090 ​(46%)

Click on an exemption below for more information:

General Homestead Exemption
Senior Citizen Homestead Exemption

Low-Income Senior Citizen Assessment Freeze Homestead Exemption

Persons with Disabilities Homestead Exemption

Veterans with Disabilities Homestead Exemption

Returning Veterans Homestead Exemption 

Home Improvement Exemption