IL SB1895

Increases the maximum income limitation for the Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $75,000 for taxable year 2019 and thereafter.

Increases the income limitation under the Senior Citizens Real Estate Tax Deferral Act from $55,000 to $75,000 for tax year 2019 and thereafter.

Maintains existing income limitations for prior taxable years ($40,000 through 2003, $45,000 through 2005, $50,000 for 2006-2007, $55,000 for 2008-2016, $65,000 for 2017-2018).

Takes effect immediately upon becoming law.