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.
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