Form Ptax 342 R PDF Details

For disabled veterans and their un-remarried surviving spouses, the PTAX-342-R form represents a critical step in maintaining the Disabled Veterans’ Standard Homestead Exemption (DVSHE), a valuable property tax relief measure. This form, required to be filed annually with the Chief County Assessment Officer (CCAO), ensures that eligible veterans continue to receive an annual reduction in the equalized assessed value (EAV) of their primary residences. The amount of EAV reduction, either $2,500 or $5,000, hinges on the degree of the service-connected disability as certified by the U.S. Department of Veterans Affairs. The filing process also accommodates un-remarried surviving spouses of disabled veterans under certain conditions. Failing to submit this form can lead to the exemption's termination, making timely submission essential. Alongside verifying the veteran’s eligibility, the PTAX-342-R form gathers pertinent details about the property and the applicant’s status. It serves not just as a bureaucratic formality but as a reaffirmation of the nation’s commitment to honor the sacrifices made by veterans. Documentation regarding the disability and occupancy of the property is sometimes requested to substantiate claims, ensuring that the benefits are accurately granted to those who rightly qualify. The form also delineates the process for newly applying or transferring the DVSHE, specifically for un-remarried surviving spouses, thereby providing a continuous support framework for those affected by the loss of a veteran.

QuestionAnswer
Form NameForm Ptax 342 R
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesPTAX 342 R WC form ptax 342 r

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PTAX-342-R Annual Veriication of Eligibility for Disabled Veterans’ Standard Homestead Exemption

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To continue to receive Disabled Veterans’ Standard Homestead Exemption (DVSHE), you must file Form PTAX-342-R each year with your Chief County Assessment Officer (CCAO). Failure to do so may result in the termination of the exemption. Your service-connected disability must be certified by the U.S. Department of Veteran Affairs.

Note: Only an un-remarried, surviving spouse of a disabled veteran can continue to receive the DVSHE provided the spouse has legal or beneficial title to the property. A surviving spouse that remarries no longer qualifies for the DVSHE.

Last date to apply: ___ ___/___ ___/___ ___ ___ ___

Step 1: Complete the following information

1______________________________________________________

Property owner’s name

______________________________________________________

Street address of homestead property

 

IL

 

City

State

ZIP

(___ ___ ___) ___ ___ ___ - ___ ___ ___ ___

Daytime phone

2Check one statement that applies.

a _______ Disabled veteran that currently has a 50% to 74% service-connected disability.

b _______ Disabled veteran that currently has at least 75% service-connected disability. If this is an increase from the prior year, you must submit documentation verifying the increase.

c _______ Un-remarried, surviving spouse of a disabled veteran.

3Assessment year for which

you are requesting the DVSHE: ___ ___ ___ ___

Year

 

 

4 Did you receive the DVSHE for the prior

 

 

assessment year on this property?

Yes

No

If “Yes”, check the amount of the DVSHE.

 

 

$2,500 EAV reduction

$5,000 EAV reduction

5Write the property index number (PIN) of the property for which you receive the exemption listed on your property tax bill. You may obtain it from your CCAO. If you are unable to obtain your PIN, write the legal description on Line b.

a PIN __ __ - __ __ - __ __ __ - __ __ __ - __ __ __ __

bWrite the legal description only if you are unable to obtain your PIN. Attach a separate sheet if needed.

___________________________________________________

___________________________________________________

___________________________________________________

Step 2: Complete the following as it applies to the property and assessment year you identiied in Step 1

5Is this the only property for which you have applied for a homestead exemption?

6On January 1, were you the owner of the property? If “No,” on January 1 did you lease the property?

7On January 1, did you occupy this property as your principal residence?

If “No”, a were you a resident of a facility licensed under the Nursing Home Care Act?

bwas this property occupied by your spouse or did it remain unoccupied?

8Are you liable for the payment of real estate taxes?

Yes

Yes Yes

Yes

Yes

Yes

Yes

No

No No

No

No

No

No

Step 3: Sign below

I state that to the best of my knowledge, the information contained in this application is true, correct, and complete.

____________________________________________________

___ ___/___ ___/___ ___ ___ ___

Property owner’s or authorized representative’s signature

Date

PTAX-342-R (N-03/08) IL-492-4535

PTAX-342-R (N-03/08)

Form PTAX-342-R General Information

What is the Disabled Veterans’ Standard Homestead Exemption (DVSHE)?

The Disabled Veterans’ Standard Homestead Exemption (35 ILCS 200/15-169) provides an annual reduction in the equalized assessed value (EAV) of a primary residence occupied by a disabled veteran on January 1 of the assessment year. The DVSHE amount depends on the percentage of the service-connected disability as certified by the U.S. Department of Veterans’ Affairs. A disabled veteran with at least a 75% service-connected disability will receive a $5,000 reduc- tion in property’s EAV. A disabled veteran with at least 50%, but less than 75% service-connected disability will receive a $2,500 reduction in property’s EAV.

Who is eligible?

To qualify for the DVSHE, the disabled veteran must

•฀ be an Illinois resident who served as a member of the U.S. Armed Forces on active duty or state active duty, Illinois National Guard, or U.S. Reserve Forces, and not dishonorably discharged.

•฀ have at least a 50% service-connected disability certified by the U.S. Department of Veterans’ Affairs; and

•฀ own and occupy the property as the primary residence on January 1 of the assessment year or lease and occupy a single family residence on January 1 of the assessment year and be liable for the payment of the property taxes to the county.

Note: The property’s total EAV must be less than $250,000 after subtracting any portion used for commercial purposes. “Commercial purposes” include any portion of the property rented for more than 6 months.

Is a surviving spouse eligible?

An un-remarried surviving spouse of a disabled veteran can contin- ue to receive the DVSHE on his or her spouse’s primary residence or transfer the DVSHE to another primary residence after the disabled veteran’s original primary residence is sold, provided the DVSHE had previously been granted to the disabled veteran.

An un-remarried surviving spouse must occupy and hold legal or beneficial title to the primary residence on January 1 of the assess- ment year.

Form PTAX-342, Application for Disabled Veterans’ Standard Home- stead Exemption, must be submitted if you are an un-remarried surviving spouse of a disabled veteran applying for the first time or transferring the DVSHE. You must also provide the disabled veteran’s marriage and death certificates and proof of ownership.

Do I need to provide documentation?

The CCAO may request documentation to verify your eligibility. Doc- umentation may include a disability award or verification letter from

the U.S. Department of Veterans’ Affairs for the current assessment year with one of the following documents that is the original or a copy certified by the county recorder, recorder of deed’s, Illinois Department of Veterans’ Affairs, or the National Archives Record Center.

•Form DD 214 or separation of service from the War Department (military service prior to 1950); or

•฀ Certification of Military Service Form.

When will I receive my exemption?

The year you apply for the DVSHE is referred to as the assessment year. The County Board of Review, while in session for the assess- ment year, has the final authority to grant your DVSHE. If granted, your DVSHE will be applied to the property tax bill paid the year following the assessment year.

When and where do I file my Form PTAX-342-R?

To continue to receive this exemption on your residence, you must file Form PTAX-342-R, Annual Verification of Eligibility for Disabled Veterans’ Standard Homestead Exemption, each year with your CCAO. Contact your CCAO at the address and phone number below for assistance and filing information with your county.

WILL

__________________________________________ County, CCAO

302 North Chicago Street, 2nd Floor

______________________________________________________

Mailing address

 

Joliet

60432

_____________________________________ IL ______________

City

ZIP

740

________________4648

If you have any questions, call (_____815 )_____-

Are there other homestead exemptions available for disabled persons or disabled veterans?

Yes. However, only one of the following disabled homestead exemp- tions may be claimed on your property for a single assessment year:

•฀ Disabled Veterans’ Homestead Exemption - up to $70,000 reduction in assessed value for federally-approved specially adapted housing. This exemption is administered by the Illinois Department of Veterans’ Affairs. (35 ILCS 200/15-165);

•฀ Disabled Persons’ Homestead Exemption - annual $2,000 reduction in property’s EAV (35 ILCS 200/15-168); or

•฀ Disabled Veterans’ Standard Homestead Exemption - annual

$2,500 or $5,000 reduction in property’s EAV (35 ILCS 200/15-169).

 

Oficial use. Do not write in this space.

Date received: ___ ___/___ ___/___ ___ ___ ___

Board of review action date: ___ ___/___ ___/___ ___ ___ ___

Verify proof of eligibility ____________________________

Approved

 

 

 

Denied

Exemption amount

 

Reason for denial____________________________________

$2,500

$5,000

______________________________________________________

 

 

Assessment information

 

Comments: _________________________________________

EAV of improvements

$___________________

______________________________________________________

EAV of land

$___________________

______________________________________________________

Total EAV of improvement/land

$___________________

______________________________________________________

EAV commercial/rented property

$___________________

______________________________________________________

Total EAV minus commercial/rented EAV $___________________

______________________________________________________

Note: An EAV of $250,000 or more, excluding commercial property or portion of the property rented for more than 6 months does not qualify for DVSHE.

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This PDF form needs specific information; in order to ensure accuracy and reliability, please make sure to take into account the following guidelines:

1. Complete your Form Ptax 342 R with a number of major fields. Consider all the important information and make sure not a single thing neglected!

Stage number 1 in filling out Form Ptax 342 R

2. Once this array of fields is done, you're ready to insert the required specifics in Step Complete the following as it, Yes, On January were you the owner of, If No on January did you lease, On January did you occupy this, If No a were you a resident of a, b was this property occupied by, Are you liable for the payment of, Step Sign below I state that to, Property owners or, Date, Yes, Yes, Yes, and Yes so you can go to the 3rd part.

Tips to fill out Form Ptax 342 R part 2

Always be really mindful when filling out Date and On January did you occupy this, because this is the part in which many people make a few mistakes.

3. Within this stage, review Date received, Board of review action date, Oficial use Do not write in this, Verify proof of eligibility, Exemption amount Assessment, Approved Denied, Note An EAV of or more excluding, and PTAXR N. These should be completed with greatest accuracy.

Part no. 3 of submitting Form Ptax 342 R

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