HB4134

Illinois HB4134 amends the Property Tax Code to provide a homestead exemption for persons with disabilities.

Illinois HB4134 amends the Property Tax Code to provide a homestead exemption for persons with disabilities. The exemption amount is $2,000 for taxable years 2022 through 2025. For taxable years 2026 and thereafter, the exemption amount is the greater of $2,000 or an amount that, when deducted from the property's value, will cause the total aggregate property tax liability for the property for the taxable year for which the exemption is claimed to equal the property tax liability for the property for the base year.