Illinois SB2751 amends the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.
Illinois SB2751 amends the Property Tax Code concerning the Low-Income Senior Citizens Assessment Freeze Homestead Exemption. It specifies the maximum income limitation for the exemption, which varies by taxable year and county population. The bill also defines terms such as "maximum income limitation," "Consumer Price Index-U," and "household income." It outlines the application process, eligibility criteria, and the method for calculating the exemption amount. The bill includes provisions for extending the filing deadline and handling exemptions for surviving spouses.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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