HB3757 Summary

• Increases maximum senior citizens homestead exemption from $5,000 to $7,500 for taxable year 2017 and thereafter in all counties.

• Creates new property tax abatement against township levies for properties included in neighborhood associations or municipalities that maintain roads or sidewalks serving the property, effective levy year 2017.

• Raises income limitation under the Senior Citizens Real Estate Tax Deferral Act from $55,000 to $75,000 for tax year 2017 and thereafter.