IL HB3401

Creates an assessment freeze homestead exemption for persons with disabilities beginning in taxable year 2019, freezing assessed values at a base year amount.

Eligibility requires the applicant to be a person with a disability, have household income not exceeding $55,000, own or have legal interest in the residence, and be liable for property taxes.

In counties with 3,000,000+ inhabitants, exemption equals current assessed value minus base year value; in other counties, exemption is reduced by percentages (20-100%) based on household income brackets from $45,000 to $55,000.

Applicants must reapply annually by July 1 (or county-specified date) with an affidavit verifying disability status, household income, marital status, and principal residence; county assessors may conduct audits to verify eligibility.

Exemption continues if applicant enters a licensed care facility and spouse remains in residence, and extends to surviving spouse for the year of death and preceding year if other qualifications are met.