IL HB2966

Increases maximum reduction for senior citizens homestead exemption to $8,000 in all counties starting taxable year 2021 (previously $8,000 only in counties with 3,000,000+ inhabitants and $5,000 in smaller counties).

Raises maximum income limitation for senior citizens assessment freeze homestead exemption to $75,000 for taxable years 2021 and thereafter (previously $65,000).

Amends 35 ILCS 200/15-170 and 35 ILCS 200/15-172 to modify property tax exemption amounts and eligibility thresholds for seniors age 65 and older.

Takes effect immediately upon becoming law.