Form Ptax-340 - 2014 Senior Citizens Assessment Freeze Homestead Exemption Application And Affidavit Page 3
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4Form PTAX-340 General Information
What is the Senior Citizens Assessment Freeze
Homestead Exemption (SCAFHE)?
The Senior Citizens Assessment Freeze Homestead Exemption
(351LCS 200/15-172) allows you, as a qualified senior citizen, to
have your home's equalized assessed value (EAV) "frozen" at a
base year value and prevent or limit any increase due to inflation.
The base year generally is the year before the year you first qualify
and apply for the exemption. For example, if you first qualify and
apply in 2013, your property's EAV will be "frozen" at the 2013 EAV.
Freezing your property's EAV does not mean that your property
taxes will not increase, however. Other factors also affect your
tax bill. For example, your tax bill could increase if the tax rate,
which is based on the amount of revenues taxing districts re-
quest, increases. Your EAV and tax bill may also increase if you
add improvements to your home. However, if your home's EAV
decreases in the future, you will benefit from any reduction.
Who is eligible?
The senior citizens assessment freeze homestead exemption quali-
fications for the 2014 tax year (for the property taxes you will pay in
2015), are listed below.
• You will be 65 or older during 2014.
• Your total household income in 2013 was $55,000 or less.
• On January 1, 2013, and January 1, 2014, you
used the property as your principal place of residence,
owned the property, or had a legal or equitable interest in
the property as evidenced by a written instrument, or had a
leasehold interest in the property used as a single-family
residence, and
were liable for the payment of property taxes.
You do not qualify for this exemption if your property is assessed
under the mobrle home privilege tax.
Surviving spouse- Even if you are not 65 or older during 2014,
you are eligible for this exemption for 2014 (and possibly 2013) if
your spouse died in 2014 and would have met all of the qualifica-
tions.
Residents in a health facility -
Even if you did not use the
property as your principal place of residence on January 1, 2014,
you qualify for this exemption if you are a resident of a facility li-
censed under the Assisted Living and Shared Housing Act, Nurs-
ing Home Care Act, ID/DD (intellectually disabled/developmen-
tally disabled) Community Care Act, or Specialized Mental Health
Rehabilitation Act of 2013 and you meet all other requirements,
have received this exemption previously, and your property is
either unoccupied or is occupied by your spouse.
Residents of cooperatives -
If you are a resident of a coop-
erative apartment building or cooperative life-care facility, you
qualify for this exemption if you are liable for the payment of the
property taxes on your residence and meet the other eligibility
requirements.
What is a household?
A household includes you, your spouse, and all other per-
sons who used your residence as a principal dwelling place on
January 1, 2014.
What is included in household income?
Household income includes your income, your spouse's income,
and the income of all individuals living in the household. Examples
of income that must be included in your household income are
listed below. (For specific questions, see Part 3 on Page 4.)
• alimony or maintenance received
• annuities and other pensions
• Black Lung benefits
• business income
• capital gains
• cash assistance from the Illinois Department of Human Ser-
vices and other governmental cash public assistance
PTAX-340 (R-12/13)
• cash winnings from such sources as raffles and lotteries
• Civil Service benefits
• damages awarded in a lawsuit for nonphysical injury or sick-
ness (for example, age discrimination or injury to reputation)
• dividends
• farm income
• Illinois Income Tax refund (only if you received Form 1099-G)
• interest
• interest received on life insurance policies
• long term care insurance (federally taxable portion only)
• lump sum Social Security payments
• miscellaneous income, such as from rummage sales, recy-
cling aluminum, or baby sitting
• military retirement pay based on age or length of service
• monthly insurance benefits
• pension and IRA benefits (federally taxable portion only)
• Railroad Retirement benefits (including Medicare deductions)
• rental income
• llinois Cares Rx rebate (only if you took an itemized deduction
for health insurance in the prior year on your federal income
tax return)
• Social Security income (including Medicare deductions)
• Supplemental Security Income (SSI) benefits
• all unemployment compensation
• wages, salaries, and tips from work
• Workers' Compensation Act income
• Workers' Occupational Diseases Act income
What is not included in household income?
Some examples of income that are not included in household
income are listed below. (For specific income questions, see
Part 3 on Page 4.)
• cash gifts
• child support payments
• Circuit Breaker grants
• COBRA subsidy payments
• damages awarded in a lawsuit for a physical personal injury or
sickness
• Energy Assistance payments
• federal income tax refunds
• IRA's "rolled over" into other retirement accounts, unless
"rolled over" into a Roth IRA
• lump sums from inheritances
• lump sums from insurance policies
• money borrowed against a life insurance policy or from any
financial institution
• reverse mortgage payments
• spousal impoverishment payments
• stipends from Foster Parent and Foster Grandparent programs
• Veterans' benefits
What if I have a net operating loss or capital
loss carryover from a previous year?
You cannot include any carryover of net operating loss or capital
loss from a previous year. You can include only a net operating
loss or capital loss that occurred in 2013.
Will my information remain confidential?
All information received from your application is confidential and
may be used only for official purposes.
When must I file?
File Form PTAX-340 with the CCAO by the due date printed on
the bottom of Page 2. You must file Form PTAX-340 every year
and meet the qualifications for that year to continue to receive the
exemption.
Note: The CCAO may require additional documentation
(i.e., birth certificates, tax returns) to verify the information in this
application.
What if I need additional assistance?
If you have questions about this form, please contact your CCAO,
also known as the supervisor of assessments, or county assessor,
at the address and phone number printed at the bottom of Page 2.
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