2007 Equalized Assessed Value –   The final assessed value of the land and improvements after equalization. Miscellaneous Exemptions –   This line item includes exemption amounts deducted from your equalized assessed value for either the Home Improvement Exemption, or the Veteran’s Exemption. The Home Improvement Exemption is an exemption of up to $15,000 off the assessed value of a property which is owner occupied and has improvements added that were not previously on the property; for example, garage, central air conditioning, room additions, in-ground pool, etc.  Maintenance of existing facilities does not qualify.  The exemption is automatically granted upon certification by the township assessor as to the value of the improvement.  The homeowner will not be billed real estate taxes on the improvement value for up to four years. The Veteran’s Exemption is for disabled veterans who have used federal funds to improve their home to accommodate their disability.  This exemption provides for up to $58,000 off the equalized assessed value of a home.  Contact the Illinois Department of Veteran’s Affairs for information on this exemption. Fraternal Organization Exemption amounts are also shown in this area. Senior Assessment Freeze –   Senior citizens who are 65 or older, own or have a legal interest in their home, have lived in their home for the last two January firsts, and have a total household income of $45,000 or less may file annually for this exemption.  This exemption freezes the equalized assessed value of the home for property tax purposes, at the assessed value prior to the year of original application.  This exemption does not freeze your taxes, just the assessment.  Applications are mailed to senior citizens who have previously filed, and are also available at the Chief County Assessment Office for those filing for the first time. Homestead Exemption Limited (Owner Occ.) –   This exemption is available to all residential property owners who live in and own, or have a legal interest in, their home.  This exemption provides for up to $5,000 off the equalized assessed value of their home.  Application can be made at the Chief County Assessment Office.  No annual renewal is necessary.  This exemption is not transferable; if you move to a new home, you must apply again. Homestead Exemption (Over 65) –   All senior citizens who are 65 or older, who live in and own, or have a legal interest in, their home are eligible.  This exemption provides for $3,500 off the equalized assessed value of their home.   Applications are available at the Chief County Assessment Office for those filing for the first time. Net Taxable Value –   This is the equalized assessed value, after exemptions are deducted, on which your tax bill is calculated. Total Tax Rate Per $100 Equalized Assessed Valuation –    This is the overall tax rate applied to this parcel, calculated by the County Clerk’s Office, based on the amount of taxes levied by each taxing. Total 2007 Tax Due –   This is the total amount of tax for which this parcel is billed for the 2007 tax year. The total due is the total tax amount calculated based on the assessed value of property.  Some property owners may owe drainage taxes which are billed as a lump sum and are included in the amount shown on the payment stub(s).