summary
Introduced
01/24/2023
01/24/2023
In Committee
01/24/2023
01/24/2023
Crossed Over
Passed
Dead
01/08/2025
01/08/2025
Introduced Session
103rd General Assembly
Bill Summary
Amends the Property Tax Code. In provisions concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that, for taxable years 2024 and thereafter, the maximum income limitation is $85,000 (currently, $65,000). Effective immediately.
AI Summary
This bill amends the Property Tax Code to increase the maximum income limitation for the Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $85,000 for taxable years 2024 and thereafter. The exemption allows eligible senior citizens with low incomes to freeze the equalized assessed value of their homes, which can help reduce their property taxes. The bill takes effect immediately.
Sponsors (3)
Last Action
Session Sine Die (on 01/07/2025)
Bill Topics
Community Development and Housing Issues
- ‐ Elderly and Handicapped Housing
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Services for the Elderly and Senior Citizens
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=96&GAID=17&DocTypeID=SB&SessionID=112&GA=103 | 01/24/2023 |
| BillText | https://www.ilga.gov/legislation/103/SB/10300SB0096.htm | 01/24/2023 |
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