2017 Natural Disaster Income Tax Credit
This income tax credit is for qualified real property that was damaged as a result of the flood event in July 2017. No other events can be considered for this. This credit can be obtained for up to $750, based upon information provided.
- Residential property must be the principal residence of the owner; if the property is leased, the owner is not eligible for this credit
- Certain business properties can apply for this credit (details listed on the certificate)
- Only losses related to qualified real property can be considered for this tax credit
- Properties that received or will receive a Natural Disaster Homestead Exemption for property taxes do not qualify for this credit
A property owner will need to provide the following documents to the County Supervisor of Assessments as a part of the certification process:
- A Natural Disaster Income Tax Credit Certificate with sections 1 and 2 completed;
- A completed IRS Form 4684; and
- Proof of loss in the form of receipts, estimates, invoices, insurance claims, or other validation to claim the income tax credit
Please bring completed forms and proof of loss documentation to the County Supervisor of Assessments Office. The information will then be evaluated to:
- Determine whether the property owner has already received a benefit with a Natural Disaster Homestead Exemption;
- Determine the amount of the credit to be received; and
- Complete Sections 3 and 4 of the Natural Disaster Income Tax Credit Certificate (if the credit is approved)
For more information on this income tax credit, visit www.tax.illinois.gov or call the Illinois Department of Revenue at 1-800-732-8866.