HB1789

Illinois HB1789 amends the Property Tax Code to modify the senior citizens homestead exemption, including changes to the maximum reduction amounts.

Illinois HB1789 amends the Property Tax Code to adjust the senior citizens homestead exemption. It specifies that the total property tax bill for any property receiving the exemption may not exceed 101% of the tax bill for the preceding year, unless the increase is due to property improvements. The bill sets different maximum reduction amounts for various taxable years and counties, ranging from $2,500 to $8,000.