Illinois Homestead Exemption Savings Calculator

Estimate how much the Illinois homestead exemption could save you each year. The example numbers are placeholders; enter your own from your assessment notice or tax bill.

Across Illinois, Census ACS 2020-2024 counts 3,378,910 owner-occupied homes (67.1% ownership). Use the calculator with figures from your assessment notice; the exemption math comes from the official source cited below.

How neighbors handle this

Iowa: 10% of value (cap $20,000)
Kentucky: $49,100 flat exemption

Neighbor figures are from the same verified official sources we cite on each page. Always confirm with the Illinois county office before filing.

The calculator models Illinois’s General Homestead Exemption and other homestead exemptions. Official benefit summary: Reduces the equalized assessed value of an owner-occupied home. Separate exemptions exist for seniors, senior assessment freeze, disabled persons and veterans. Filing path from the source: Contact your county assessor's office.

Population and housing figures: U.S. Census Bureau, ACS 2020-2024 5-year (state FIPS 17). Exemption figures checked against the official page on 2026-11-04.

How the exemption works

The General Homestead Exemption reduces EAV by up to $10,000 in Cook County, $8,000 in counties next to Cook and $6,000 elsewhere.
The Senior Citizens Homestead Exemption reduces EAV by up to $8,000 in Cook and next-door counties, or $5,000 elsewhere.

Assumptions

Uses the maximum amounts. The general exemption is limited to the increase in EAV over the 1977 value, so a few long-held homes get less.
Savings = exemption × your tax rate.

Source: Illinois Department of Revenue. Figures checked against the official page on 2026-11-04.

How much does the Illinois homestead exemption save?

Multiply the exemption by your local tax rate. Uses the maximum amounts. The general exemption is limited to the increase in EAV over the 1977 value, so a few long-held homes get less.

Is this calculator official?

No. It is an estimate based on figures from the official state source cited on this page.