Bill > HB2571

This bill amends the Property Tax Code to provide additional protections for homeowners with disabilities by introducing a property tax liability cap. Specifically, for any property that was granted a homestead exemption for persons with disabilities starting from January 1, 2025, the total property tax liability for subsequent consecutive years cannot exceed the tax liability from either 2025 or the first year the property became eligible for the exemption (whichever is later). This cap will remain in place continuously as long as the property remains eligible for the disability homestead exemption, unless the chief county assessment officer determines that substantial improvements were made to the property during the previous year. The exemption is available to individuals with disabilities who occupy the property as their primary residence, are responsible for paying property taxes, and meet specific eligibility criteria, such as having a medically determinable physical or mental impairment that prevents substantial gainful activity. The bill aims to provide financial stability and support for homeowners with disabilities by limiting potential increases in their property tax burden.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2571&GAID=18&DocTypeID=HB&SessionID=114&GA=104