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Blog · Exemptions · 2026-08-02 · 2 min read

What to do about exemptions in your first year of ownership

The seller's exemptions do not become yours. Assume nothing carried over.

New owners often see a first bill that looks fine because it still reflects the seller's exemptions, then a second that does not.

Apply in your own name

File for the general homestead exemption for the year you occupy. Do not assume the closing handled it — closings prorate taxes, they do not transfer exemptions.

Watch for the seller's senior exemptions

If you bought from an older owner who held senior exemptions or the freeze, those end. Your bill can rise sharply for reasons that have nothing to do with your assessment. Budget for it in year two rather than being surprised.

Check what you inherited in the record

Read the property record card. You have just bought whatever errors it contains, and your purchase price is the best evidence you will ever hold for correcting them.

The first-year appeal

If you paid arm's length below the county's implied value, your first year is the strongest appeal opportunity you will have. Note the deadline the moment your first assessment notice arrives.

This is general information about how Illinois assessments and appeals work. It is not legal advice, not an appraisal, and not a prediction about your case. Deadlines and rules differ by county — check yours with your Board of Review.

Check your own assessment free →

More on Exemptions

The general homestead exemption, and how it goes missing The one nearly every Illinois owner-occupier gets — and the one that quietly falls off after a title change.The senior citizens homestead exemption An additional reduction for owner-occupiers aged 65 or over. Some counties renew it automatically; some do not.The senior assessment freeze: what it does and does not freeze It freezes the assessed value, not the tax bill. People are surprised by that every year.The home improvement exemption: renovate without an immediate tax rise Up to a statutory limit of added value is exempt for four years. Most people never claim it.

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