Assessor Announces End to “Empathetic” Tax Reductions, Raises Senior Freeze Threshold
Manhattan Township homeowners will see two significant changes in property assessment rules, including the end of a long-standing practice of granting tax reductions for fire-damaged properties and a beneficial increase in the income threshold for the senior freeze exemption.
Assessor Joe Oldani, attending the May 13 township meeting via phone, reported the changes to the board. He announced his office will no longer be able to offer “empathetic reductions” to homeowners whose properties have been damaged or destroyed by fire. This informal policy had previously provided temporary tax relief to residents during a difficult time, but the practice is being discontinued.
On a more positive note for older residents, Oldani shared that the income threshold for the senior citizen assessment freeze homestead exemption has been increased. The eligibility limit has been raised to $75,000, allowing more seniors on fixed incomes to qualify for the program, which freezes the assessed value of their homes to prevent property tax increases.
Oldani also noted that his office has received relatively few phone calls regarding recent tax bills. He said the majority of inquiries have been from residents seeking information about available exemptions rather than questioning the amount of their bills.
Latest News Stories
Seattle affordable housing goal elusive despite millionaire’s tax
Illinois Quick Hits: Teachers union says CPS to bus students to rally
Illinois Quick Hits: Teachers union says CPS to bus students to rally
Pritzker says of BUILD Plan for homes would not cost taxpayers
Pritzker says of BUILD Plan for homes would not cost taxpayers
Illinois GOP aims to keep power plants open, increase charge transparency
Illinois GOP aims to keep power plants open, increase charge transparency
Inspector: Chicago finance department lacks tools to collect $8.1 billion owed
Congress passes FISA Section 702 stopgap after 18-month extension fails in House
Congress passes FISA Section 702 stopgap after 18-month extension fails in House
Illinois lawmakers seek to eliminate state diversity commission