IL SB2030

Increases maximum income limitation for low-income senior citizens assessment freeze homestead exemption to $75,000 for counties with 3,000,000+ inhabitants and $65,000 for smaller counties for taxable year 2023; $75,000 for all counties for taxable years 2024 and thereafter.

Modifies income thresholds under the Senior Citizens Real Estate Tax Deferral Act to $75,000 for tax year 2023 and thereafter (previously $65,000 for tax year 2022 and $55,000 for tax year 2026).

Applies effective immediately upon becoming law.