Illinois HB0069 amends the Property Tax Code to set a maximum income limit for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.
HB0069 amends the Property Tax Code to adjust the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. Effective immediately, the bill sets the maximum income limitation for this exemption at $75,000 for all qualified property starting from taxable year 2025. The exemption applies to real property improved with a permanent structure that is occupied as a residence by an applicant who is 65 years of age or older, has a household income not exceeding the maximum income limitation, is liable for paying real property taxes on the property, and is either an owner of record or has a.
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