IL HB4325

Increases the maximum income limitation for the Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $75,000 for taxable year 2018 and thereafter.

Applies the $75,000 income limit uniformly to all qualified properties across Illinois counties, eliminating the previous distinction between counties with 3,000,000+ inhabitants and smaller counties.

Exemption allows seniors age 65+ with household income not exceeding the maximum limitation to freeze property tax assessments at a base year value.

Takes effect immediately upon becoming law.