IL HB1308

Veterans with a permanent and total disability rating from the U.S. Department of Veterans Affairs would receive a full property tax exemption on their primary residence, effective for taxable years 2025 and thereafter

Currently, veterans with 70% or higher service-connected disability receive an exemption on the first $250,000 in equalized assessed value; those with 50-70% disability receive a $5,000 exemption; and those with 30-50% disability receive a $2,500 exemption

World War II veterans already qualify for full property tax exemption regardless of disability level (effective since 2024)

The bill amends Section 15-169 of the Illinois Property Tax Code and takes effect immediately upon becoming law