Sugar Grove Township Assessor Curt Karas says many residents are not receiving all of the property tax exemptions for which they may be eligible.
One example is the homestead exemption, which homeowners can claim if they own and live in their home.
“In Kane County, the homestead exemption is an eight thousand dollar exemption off your assessed value. So what that means is eight thousand dollars reduces your assessed value. That’s what you’re taxed on. If your tax rate’s ten percent, you’re saving eight hundred dollars. So that eight thousand dollar exemption is for all the collar counties in Illinois. Other counties like Kendall County and DeKalb County, that exemption is six thousand dollars. So, I’ve noticed that a lot of people don’t have their exemptions. When they see the property tax bill, they’re not looking for it. When you do get your property tax bill, look on the lower right hand side. It’ll have your market value, your assessed value, your exemptions, your tax rate, and your tax…