HB1596 Summary

• Amends the Property Tax Code Section 15-172 regarding the Senior Citizens Assessment Freeze Homestead Exemption to exclude wages earned by household members with disabilities from "household income" calculations.

• Defines "person with a disability" as someone with a permanent physical or mental impairment from disease, injury, functional disorder, or congenital condition that renders them incapable of adequately providing for their own health or personal care.

• Allows senior citizens (age 65+) with qualifying household income to receive a property tax assessment freeze on their residence, with the exemption amount based on the difference between current equalized assessed value and a base year value.

• Establishes varying maximum income limitations by year and county size, ranging from $35,000 (prior to 1999) to $65,000 (2018 and thereafter for all qualified properties).

• Takes effect immediately upon becoming law.