HB1807 Summary

• Creates an assessment freeze homestead exemption for Illinois residents receiving federal Supplemental Security Income, effective beginning in taxable year 2021.

• Exemption applies to owner-occupied residences and certain leasehold interests in single-family homes where the applicant receives SSI, has household income not exceeding $55,000, and is liable for property taxes.

• Exemption amount equals the difference between current equalized assessed value and the base amount (assessed value from the year before first qualification plus improvements added after base year).

• Applicants in counties with fewer than 3,000,000 inhabitants must submit applications by July 1 each year to the chief county assessment officer; larger counties set their own application deadlines.

• Exemption continues for surviving spouses meeting other qualifications, and applicants who enter care facilities may retain the exemption if a spouse occupies the residence or the property remains owned by the qualified applicant.