Which property owners in Illinois are totally exempt from paying general real estate taxes?

While senior citizens in Illinois may qualify for certain tax relief programs, such as the General Homestead Exemption or the Senior Citizens Homestead Exemption, they are not completely exempt from paying general real estate taxes. These programs can reduce the amount owed but do not eliminate it entirely.

Lending institutions, such as banks and mortgage companies, are subject to property taxes like any other business entity. They do not receive any special exemptions for property owned and must pay general real estate taxes, which contribute to local government funding.

Although hospitals may receive exemptions for certain types of property, they are not universally exempt from all general real estate taxes. Many hospitals, particularly non-profit ones, may qualify for partial exemptions, but they still have tax obligations on some of their properties depending on their use and designation.