IL HB0864

Creates an assessment freeze homestead exemption for persons with disabilities beginning in taxable year 2021, freezing property assessments at base year levels with exemptions for improvements added after the base year.

Applicants must have a disability, household income not exceeding $55,000, own or have legal/equitable interest in their primary residence, and be liable for property taxes.

Exemption amounts vary by county size and household income: in counties with 3,000,000+ inhabitants, exemption equals current assessed value minus base amount; in smaller counties, exemption percentages range from 100% (income ≤$45,000) to 20% (income $48,750-$55,000).

Applicants must reapply annually by July 1 (or county-set date) with an affidavit detailing household income, marital status, disability status, and principal residence; county assessors may audit claims and verify accuracy.

Exemption continues if applicant enters a licensed care facility so long as spouse occupies residence or applicant retains ownership; surviving spouses qualify for exemption in death year and preceding year if other requirements are met.