SB1689 Summary

• Increases maximum income limitation for Senior Citizens Assessment Freeze Homestead Exemption to $75,000 for taxable year 2019 in counties with 3,000,000+ inhabitants and $65,000 in smaller counties.

• Sets maximum income limitation at $75,000 for all qualified property statewide beginning taxable year 2020 and thereafter.

• Raises the minimum exemption amount to $2,000 for taxable year 2017 and beyond in counties with 3,000,000+ inhabitants, whichever is greater.

• Changes taxable year 2018 income limitation from "years 2018 and thereafter" to only taxable year 2018 at $65,000 for all qualified property.