Illinois HB5245 establishes a property tax bill freeze for low-income senior citizens in tax year 2026 and beyond.
Illinois HB5245 amends the Property Tax Code to introduce a Low-Income Senior Citizens Assessment Freeze and Level Billing. This bill ensures that eligible low-income senior citizens receive property tax bills that do not exceed the amount from the prior tax year, starting from tax year 2026. Eligibility for this freeze is contingent on continued qualification for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. The county assessor and collector must cooperate to implement this provision.
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