Bill > SB2701

This bill amends the Property Tax Code to simplify the senior citizens homestead exemption process across all counties. Starting in 2026, seniors who have been previously granted a homestead exemption will no longer need to reapply for the exemption annually, reducing administrative burden for both taxpayers and county assessment offices. The bill extends a previous policy that was initially implemented only for counties with 3,000,000 or more inhabitants to now apply to all counties in Illinois. The senior citizens homestead exemption allows individuals 65 years or older to receive a property tax reduction, with the maximum exemption amount varying between $5,000 and $8,000 depending on the county's population. To maintain the exemption, property owners must still notify the chief county assessment officer if their property no longer qualifies for the exemption. The bill also maintains provisions for the county assessment officer to verify eligibility through various methods and to collaborate with other government agencies to ensure accurate and current information about exemption recipients.

Budget and Finance

https://www.ilga.gov/Legislation/BillStatus?DocNum=2701&GAID=18&DocTypeID=SB&SessionID=114&GA=104