Form Ptax-327 - Application For The Natural Disaster Homestead Exemption Page 4
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5General Information
What is the Natural Disaster Homestead
liable by contract with the owner(s) of record for the payment of
the apportioned property taxes on the property; and
Exemption (NDHE)?
an owner of record of a legal or equitable interest in the
The Natural Disaster Homestead Exemption is an exemption on
cooperative apartment building. Leasehold interest does not
homestead property for a rebuilt residential structure following a
qualify for this exemption.
natural disaster occurring in the taxable year 2012 or any taxable
year thereafter. The amount of the exemption is the reduction in
Is a surviving spouse eligible?
equalized assessed value (EAV) of the residence in the first taxable
The NDHE carries over to the benefit of a surviving spouse who
year for which the taxpayer applies for an exemption minus the
holds a legal or beneficial title to the homestead and permanently
equalized assessed value of the residence for the taxable year
resides on the property.
prior to the taxable year in which the natural disaster occurred. The
exemption continues at the same amount until the taxable year in
What is a natural disaster?
which the property is sold or transferred.
Note: Property is not eligible for the NDHE (35 ILCS 200/15-173)
Natural disaster means an occurrence of widespread or severe
and the Homestead Improvement Exemption
damage or loss of property resulting from any catastrophic cause
(35 ILCS 200/15-180) for the same natural disaster or catastrophic
including but not limited to fire, flood, earthquake, wind, storm,
event. The property may, however, remain eligible for an additional
or extended period of severe inclement weather. In the case of a
Homestead Improvement Exemption for any separate event occurring
residential structure affected by flooding, the structure shall not be
after the property qualified for the NDHE.
eligible for an exemption unless it is located within a local jurisdiction
which is participating in the National Flood Insurance Program. A
Who is eligible?
proclamation of disaster by the President of the United States or
To be eligible for an exemption,
the Governor of the State of Illinois is not a prerequisite to the
you must own or have a legal or equitable interest in the property
classification of an occurrence as a natural disaster.
on which a single family residence is occupied as your principal
residence during the assessment year;
When should I file?
you must be liable for payment of the real estate taxes;
Your initial Form PTAX-327, Application for the Natural Disaster
the residential structure must be rebuilt within 2 years after the
Homestead Exemption, must be filed with the chief county
date of the natural disaster; and
assessment office no later than July 1 of the first taxable year after
the square footage of the rebuilt residential structure may not
the residential structure is rebuilt or the filing date set by your county.
be more than 110 percent of the square footage of the original
The county’s due date to file this form is printed on the front of this
residential structure as it existed immediately prior to the natural
application. You must continue to file Form PTAX-327 every year
disaster.
and meet the qualifications to continue to receive the NDHE. The
chief county assessment office may require you to submit additional
If you are a resident of a cooperative apartment building or life care
documentation as proof for this exemption.
facility as defined under Section 2 of the Life Care Facilities Act,
you are still eligible to receive the NDHE provided you occupy the
property as your primary residence and you are
What if I need additional assistance?
Mail your completed Form PTAX-327 to:
If you need additional assistance, please contact the local assessing
Kane County Supervisor of Assessments
_____________________________________________________
official.
Local assessing official
Kane
_____________________________________________________
630 208-3818
Phone: (_____)__________________________
County
719 South Batavia Avenue, Building C
_____________________________________________________
Mailing address
Geneva
60134
___________________________________________IL________
City
ZIP
Official use. Do not write in this space.
Assessment Information of Residence
___ ___/___ ___/___ ___ ___ ___
Date received by CCAO:
Month
Day
Year
Square footage: __________________
__________________
___ ___/___ ___/___ ___ ___ ___
CCAO action date:
Original residence
Rebuilt residence
Month
Day
Year
Note: SF of original residence x 110% = maximum SF to qualify for NDHE.
First year of application:
Approved
Denied
___ ___ ___ ___
$___________________________
Year
EAV of rebuilt structure (no land value)
Reason for denial:
_____________________________________
_______________________________________________________
Year prior to natural disaster:
_______________________________________________________
___ ___ ___ ___
$___________________________
EAV of original structure (no land value)
Year
_______________________________________________________
_______________________________________________________
Proposed increase in EAV attributable
_______________________________________________________
$___________________________
solely to rebuilt structure:
_______________________________________________________
Note: EAV of rebuilt structure - EAV of original structure = NDHE amount.
_______________________________________________________
PTAX-327 Back (N-12/12)
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