IL HB3171

Increases the maximum income limitation for the senior citizens assessment freeze homestead exemption from $65,000 to $75,000 for taxable years 2023 and thereafter.

Applies to seniors age 65 and older who own or have a legal interest in their primary residence and meet income requirements.

The exemption freezes assessed value increases by limiting the property tax assessment to the base year amount, with limited exceptions for improvements.

Effective immediately upon becoming law.