In an effort to provide financial relief to critically wounded veterans and their families, lawmakers passed legislation to increase the property tax exemption for veterans with severe service related-disabilities. The proposal also expands the exemption to include homes donated to veterans by charitable organizations.
“We have an obligation to care for our wounded veterans, and this update will help protect veterans from unwarranted financial costs due to their injuries,” said State Senator Michael E. Hastings (D–Tinley Park), the Senate sponsor of the proposal.
The measure ensures that veterans with severe service-related disabilities who receive specially adapted homes from charitable organizations can access a property tax exemption. That exception is already available to disabled veterans who receive homes built with federal dollars.
Hastings passed the legislation to prevent veterans who have received donated homes at zero cost from falling victim to foreclosures because they cannot afford property taxes due to their fixed incomes.
“These homes are custom built to match the unique needs of each injured veteran,” Hastings said. “This specific change will help a family in Antioch who received a graciously donated home back in 2012, but have had to deal with an increased tax burden.”
In 2012, after suffering deliberating injuries in Afghanistan, Nick Mapson his wife, Jackie, and their children received keys to a new home in the Newport Cove community at the Chain O’Lakes near Antioch thanks to charitable donors and New American Homes Inc. The family was then hit with an unaffordable tax bill.
The proposal also expanded the Disabled Veterans’ Homestead Exemption to the spouse of a veteran killed in the line of duty and, to keep pace with rising property values, increases the benefit from $70,000 to $100,000.
Senate Bill 2905 passed both the Illinois House and Senate without opposition and is now awaiting Governor Pat Quinn’s signature.