homestead – CU-CitizenAccess.org

A view of houses on Hedge Road. Several rental properties here are owned by companies that receive the homestead exemption.

Landlords benefit from loose law; save millions in taxes

Post author:Pam G. Dempsey
Post published:July 14, 2015
Post category:Government

Champaign County landlords are reaping more than $20 million in tax exemptions a year by taking advantage of a loosely written state law and an interpretation of that law by the county supervisor of assessments.

Read more about the article Co-ops, retirement villages benefit from homeowners exemptions

Darrell Hoemann/CU-CitizenAccess.org

Winfield Village on July 8, 2015. This retirement community received more than $2 million in the homestead exemption for tax year 2014.

Co-ops, retirement villages benefit from homeowners exemptions

Post author:agorton
Post published:July 9, 2015
Post category:Housing

Landlords of single properties are not the only ones getting tax breaks under the General Homestead Exemption. Companies that own cooperative apartments or retirement life-care communities also can get multiple exemptions under state law.