HB0779 Summary

• Creates an assessment freeze homestead exemption for Illinois residents receiving federal Supplemental Security Income, freezing property tax assessments at base year values starting in taxable year 2017.

• Requires applicants to have household income not exceeding $55,000 and be liable for property taxes on their primary residence, which can be owned, leased, or held through cooperative arrangements.

• Exemption amount equals the difference between current equalized assessed value and the base amount, with improvements added after the base year included in calculations for cooperative housing.

• Exemption continues for surviving spouses occupying the property and for applicants in assisted living or nursing facilities if the residence remains occupied by spouse or owned by the applicant.

• Requires annual application submission by July 1 (or county-specified date) to county assessment officers, with affidavit verification under penalties of perjury, and grants assessment officers authority to conduct audits and verify eligibility.