IL HB2529

Increases the senior citizens homestead exemption to a maximum $8,000 reduction from property value for all Illinois counties beginning in taxable year 2026

Currently, the $8,000 maximum exemption applies only to Cook County (3,000,000+ inhabitants) and contiguous counties, while all other counties have a $5,000 maximum

Eliminates the geographic disparity in senior homestead exemption amounts, providing uniform tax relief statewide for homeowners age 65 and older

Takes effect immediately upon becoming law