IL HB1334

Amends the Property Tax Code to expand the homestead exemption for persons with disabilities beginning in taxable year 2026

Provides that if a person with a disability is eligible to receive disability benefits under the federal Social Security Act, their property is completely exempt from property taxation

Current law provides only a $2,000 reduction from the property's equalized assessed value for persons with disabilities who meet eligibility requirements

The new provision would eliminate property taxes entirely for Social Security disability recipients who own and occupy their home as a primary residence

Takes effect immediately upon becoming law