HB5297

Illinois HB5297 modifies the Property Tax Code to adjust the income limits for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.

Illinois HB5297 amends the Property Tax Code to adjust the income limits for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. This bill changes the maximum income limitations for eligible applicants, affecting those who are 65 years or older and meet specific income criteria. The bill also includes provisions for handling applications, determining base years, and managing exemptions in various scenarios, such as when an applicant incurs qualified medical expenses or when a property is improved with a permanent structure.