Going to the Hearing .......................................................................................... 30. D. If You Disagree with the Courtâs Order ..............................................................
Properties cannot receive both the LOHE and the General Homestead Exemption or Senior Citizens Assessment Freeze Homestead Exemption. Properties that qualify for the Senior Citizens Assessment Freeze Homestead Exemption will receive the same amount calculated for the General Homestead Exemption. For information and to apply for this homestead exemption, contact the Cook County Assessor's Office.
Federal Homestead Exemption. The homestead exemption is designed to protect the equity in your principal place of residence. Keep in mind that you cannot use the homestead exemption on your investment or rental properties. You can currently protect $22,975 of equity in your home under the federal exemptions. (To learn how this important exemption plays a role in your Chapter 7 or Chapter 13 bankruptcy, see The Homestead Exemption in Bankruptcy .).