SB1807

Adjusts income limits for senior citizens' property tax freeze exemption

Adjusts income limits for the senior citizens' property tax freeze exemption in Illinois. Increases the maximum income limitation for the exemption from $65,000 to $85,000 for taxable years 2026 and thereafter. The exemption applies to real property improved with a permanent structure that is occupied as a residence by an individual who is 65 years of age or older and has a household income that does not exceed the maximum income limitation. The bill also allows for extensions of the filing deadline for the exemption in certain circumstances.