HB4405 amends the Property Tax Code to expand homestead exemptions for veterans and their surviving spouses.
HB4405 amends the Property Tax Code to provide homestead exemptions for veterans with disabilities and veterans of World War II. The bill grants annual exemptions based on the veteran's service-connected disability rating, with higher ratings resulting in larger exemptions. For taxable years 2026 and beyond, the definition of "veteran" includes those who were killed in the line of duty but were not Illinois residents at the time of their death. Surviving spouses of veterans killed in the line of duty are also eligible for exemptions, provided they meet certain conditions.
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- Overview
- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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