IL HB3928

Increases the maximum reduction for the senior citizens homestead exemption to $9,000 in all counties for taxable years 2024 and thereafter (previously $8,000 in large counties and $5,000 in other counties).

Raises the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption to $75,000 for taxable years 2024 and thereafter (previously $65,000).

Applies the changes to Section 15-170 and Section 15-172 of the Property Tax Code.

Takes effect immediately upon becoming law.