IL HB2388

Increases the maximum household income limit for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $85,000, effective for taxable year 2026 and thereafter

Amends Section 15-172 of the Illinois Property Tax Code, which allows eligible seniors aged 65 and older to freeze the assessed value of their primary residence at a base year amount

Expands eligibility for the property tax exemption program to seniors with higher incomes, allowing more homeowners to qualify for property tax relief

Takes effect immediately upon becoming law