Benefit:

This exemption defers, for four years, any increase in the assessment of the property due to an addition or other improvement to the home for which the Township Assessor would add value. A maximum deduction is $25,000 of equalized assessed value.

Qualifications:

• Property must be the principal residence of the owner

To Apply:

This exemption is initiated at the local township assessor's office.

35ILCS 200/15-180