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As the owner occupant of an historic residence approved for an assessment freeze, Illinois law requires that you file specific information with the County Assessor’s Office every year by January 31st.

Under the Illinois Property Tax Code, the owner of property on January 1 is liable for any increased taxes that result from the construction of new buildings, structures or other improvements on the property from the date when an occupancy permit was issued, or, from the date the new or added improvement was inhabitable and fit for occupancy, through December 31 of that year. (35 ILCS 200/9-180)

When in a prior year buildings, structures or other improvements on a property were destroyed and rendered uninhabitable or otherwise unfit for occupancy or use by accidental means (excluding destruction resulting from the willful misconduct of the owner of such property), the owner of the property on January 1 is entitled, on a proportionate basis, to a diminution of assessed valuation for the period during which the improvements were uninhabitable or unfit for occupancy or customary use. (35 ILCS 200/9-180)