IL HB1061

Amends the Property Tax Code to provide a full property tax exemption for persons with disabilities who are 55 years of age or older at any point during the taxable year, effective for taxable year 2023 and thereafter

Currently, the homestead exemption for persons with disabilities provides a $2,000 reduction from the property's equalized assessed value

To qualify, the person with a disability must occupy the property as their primary residence, be liable for paying real estate taxes, and be an owner of record or have a legal/equitable interest in the property

"Person with a disability" is defined as someone unable to engage in substantial gainful activity due to a medically determinable physical or mental impairment expected to result in death or last at least 12 months

Proof of disability can be established through federal Social Security disability benefits, an Illinois Person with a Disability Identification Card (Class 2), or examination by a designated healthcare provider