IL HB0069

Increases the maximum household income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $75,000 beginning in taxable year 2025

Amends Section 15-172 of the Property Tax Code, which freezes the assessed value of a senior homeowner's property at the base year level to protect against rising property taxes

Applies to homeowners age 65 or older who occupy their residence as their principal dwelling and are liable for paying property taxes

The income limit change applies uniformly to all qualified property statewide, eliminating the previous distinction between counties with 3,000,000+ inhabitants and smaller counties

Takes effect immediately upon becoming law