HB1092 amends the Low-Income Senior Citizens Assessment Freeze Homestead Exemption to increase the maximum income limit for eligibility.
HB1092 amends the Property Tax Code to adjust the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. Effective immediately, the maximum income limit is set at $85,000 for all qualified property. This change aims to provide broader eligibility for the exemption, which freezes the assessed value of a senior citizen's primary residence at the time they first qualify, provided they meet certain income and age criteria.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.