Bill > HB2809

This bill amends the Property Tax Code to modify the homestead exemption for veterans with disabilities in Illinois. For taxable years 2026 and thereafter, the bill establishes a graduated exemption system based on the veteran's service-connected disability rating: veterans with a disability of 30% or more but less than 50% will receive an annual exemption of 30% of the property's assessed value; veterans with a disability of 50% or more but less than 70% will receive an annual exemption of 50% of the property's assessed value; and veterans with a disability of 70% or more will be completely exempt from property taxation. The exemption applies to a qualified residence, which is defined as the primary residential property of a veteran with a service-connected disability, and is certified by the United States Department of Veterans Affairs. Additionally, the bill continues to provide provisions for surviving spouses to maintain the exemption under certain conditions, such as holding legal title to the property, permanently residing there, and not remarrying. The changes aim to provide more substantial tax relief for disabled veterans based on the severity of their service-connected disabilities.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2809&GAID=18&DocTypeID=HB&SessionID=114&GA=104