Illinois HB1701 adjusts the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.
HB1701 amends the Property Tax Code to increase the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. This exemption applies to senior citizens aged 65 or older with household incomes below a certain threshold. The bill specifies the income limits for different taxable years, adjusting them based on the annual cost of living adjustment in Social Security and Supplemental Security Income benefits.
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