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Am I Eligible for the Illinois Property Tax Credit?

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Question
Am I Eligible for the Illinois Property Tax Credit?

Answer

Am I eligible for a property tax credit?

You may figure a credit for the Illinois property taxes you paid on your principal residence (not a vacation home or rental property) for the time you owned and lived at the property during the tax year, if that residence was in Illinois. Nonresidents of Illinois may not take this credit.

You may not figure a credit for mobile home privilege tax, penalties, or fees included in your property tax bill, or the portion of the property that is deductible as a business expense.

See the instructions for Schedule ICR to see if you are eligible for these credits.


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Article Details
Views: 1863 Created on: Jun 15, 2013
Date updated: Jan 06, 2022
Posted in: States, Illinois

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