FINANCIAL ADVANTAGE
Additional Benefits For Illinois Veterans
As a Veteran in Illinois, you may qualify for valuable state and federal benefits that can improve your financial security, reduce education costs, and provide long-term support for you and your family. Understanding available Illinois disabled veteran benefits can help you maximize the compensation and resources you’ve earned through your service. The Illinois Department of Veterans’ Affairs (IDVA) and Illinois Department of Revenue administer many of these programs.
Tax Relief
Property Tax Exemptions for Veterans in Illinois
- Provides an annual reduction in the equalized assessed value (EAV) of a primary residence owned and occupied by a qualifying Illinois veteran with a service-connected disability. The amount depends on the VA-certified disability percentage: $2,500 reduction for 30% but less than 50%; $5,000 reduction for 50% but less than 70%; and exemption of the first $250,000 of EAV (effectively full exemption for many properties) for 70% or higher. Unremarried surviving spouses of service members killed in the line of duty also qualify for the full exemption on the primary residence.
- Qualifying veterans returning from active duty in an armed conflict may receive a one-time $5,000 reduction in the EAV of their primary residence. Additional relief includes the Specially Adapted Housing exemption and mobile home tax exemptions for eligible disabled veterans.
Family Tuition Assistance
Education Benefits for Illinois Veterans
- Pays tuition and mandatory fees at Illinois public universities, colleges, and community colleges for eligible veterans. The grant covers the equivalent of four academic years of full-time enrollment at the undergraduate or graduate level and is an entitlement.
- Provides an education scholarship covering up to 120 credit hours of tuition and certain fees at Illinois public universities and community colleges for eligible spouses, widows/widowers, natural children, stepchildren, or adopted children of veterans who are MIA, POW, died on active duty, are 100% service-connected disabled, or died from service-connected disabilities. A related annual $250 Opportunity Grant is available for eligible children ages 10–18.
Home Financing
Home Loan Benefits for Eligible Veterans
- Eligible veterans can access VA-guaranteed home loans (often with no down payment) for purchase or refinance. IDVA also provides resources for mortgage assistance and a state Specially Adapted Housing grant (up to $15,000 lump sum) for veterans certified eligible for the federal Specially Adapted Housing Grant who were Illinois residents at entry into service.
- IDVA operates five state veterans’ homes offering skilled nursing, memory care, and related long-term care in a home-like environment for eligible aging or disabled veterans (and in some cases spouses). Admissions and costs are based on eligibility and income guidelines; contact the individual home or IDVA for applications.