IL PTAX-340 2019 free printable template

Note You must sign your Form PTAX-340 and have it notarized before you file it with your CCAO. Return your completed Form PTAX-340 to your CCAO s office or mail it to the address printed. 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...

How to fill out ptax 340

How to fill out IL PTAX-340

1. Begin by obtaining the IL PTAX-340 form from the Illinois Department of Revenue website or a local office.
2. Fill in your personal information, including your name, address, and contact information at the top of the form.
3. Indicate the property details including the parcel number and the address of the property in question.
4. Choose the appropriate reasons for your request in the designated section.
5. Provide a detailed explanation or statement regarding the reasons for your submission.
6. Include any supporting documentation required, such as property tax bills or previous assessments.
7. Review the completed form carefully to ensure all information is accurate.
8. Sign and date the form at the bottom to certify that all the information provided is true.
9. Submit the form as directed, either by mail or in person to the local assessment office.

Who needs IL PTAX-340?

1. Property owners in Illinois who wish to challenge their property tax assessments may need to fill out IL PTAX-340.
2. Individuals who believe they qualify for a property tax exemption or need to report changes to their property status should also use this form.
3. Real estate agents or property managers who handle assessments for clients may also need this form.

People Also Ask about

What is Ptax 340 in Madison County IL?

Click Here for Form 2023 (PTAX-340) This exemption allows senior citizens who have a total household maximum income of less than $65,000 and meet certain other qualifications to elect to maintain the EAV of their homes at the base year EAV and prevent any increase in that value due to inflation.

What is the Illinois senior freeze exemption?

Senior homeowners are eligible for this exemption if they are over 65 years of age and have a total household annual income of $65,000 or less in the 2021 calendar year. A "Senior Freeze" Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property.

What is the home improvement exemption in Illinois?

The Home Improvement Exemption allows a homeowner to add improvements to their home that add to its value (for example, by increasing the building's square footage, or repairing after structural flood damage) without being taxed on up to $75,000 of the added value for up to four years. No application is required.

At what age do seniors stop paying property taxes in Illinois?

Senior Citizens Real Estate Tax Deferral Program allows persons 65 years of age and older, who have a total household income of less than $65,000 and meet certain other qualifications, to defer all or part of the real estate taxes and special assessments on their principal residences.

Is there a tax break for homeowners in Illinois?

What is the Illinois Property Tax Credit? The Illinois Property Tax Credit is a credit on your individual income tax return equal to 5 percent of Illinois Property Tax (real estate tax) you paid on your principal residence. You must own and reside in your residence in order to take this credit.

How much is the Illinois homeowner exemption?

The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of a property by $10,000.

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What is IL PTAX-340?

IL PTAX-340 is a form used in Illinois for reporting the status of property tax exemptions for various types of property owners, businesses, or organizations.

Who is required to file IL PTAX-340?

Organizations or individuals who wish to claim a property tax exemption in Illinois are required to file IL PTAX-340.

How to fill out IL PTAX-340?

To fill out IL PTAX-340, you need to provide information such as your name, address, details about the property, and the specific exemption being claimed. It is important to follow the instructions provided with the form.

What is the purpose of IL PTAX-340?

The purpose of IL PTAX-340 is to assist the Illinois Department of Revenue in assessing eligibility for property tax exemptions and to ensure accurate reporting of the properties that qualify for these exemptions.

What information must be reported on IL PTAX-340?

IL PTAX-340 requires reporting information including property details, the exemption type, the property's use, and your identification information as the applicant.