SB3042

Illinois SB3042 grants a $5,000 homestead exemption to surviving spouses of police officers or firefighters killed in the line of duty.

Illinois SB3042 amends the Property Tax Code to create a homestead exemption for the surviving spouse of a police officer or firefighter killed in the line of duty. The exemption reduces the equalized assessed value of the property by $5,000 annually, starting from taxable year 2026. The exemption applies to the surviving spouse's primary residence, provided they do not remarry. The exemption can be transferred to a new residence if it remains the primary residence. The exemption continues if the spouse moves to a nursing home or a Department of Veterans Affairs facility.