SB3894 amends the Low-Income Senior Citizens Assessment Freeze Homestead Exemption in Illinois.
SB3894 amends the Low-Income Senior Citizens Assessment Freeze Homestead Exemption in Illinois by adjusting the maximum income limitation for qualified property. For taxable years 2026 and thereafter, the maximum income limitation is set at $85,000. The bill also outlines the process for applying for the exemption, including the submission of an affidavit and the conditions under which the exemption can be granted or denied. Additionally, it specifies the role of the Chief County Assessment Officer in verifying eligibility and conducting audits.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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