IL HB2571

Freezes property tax liability for homeowners receiving the homestead exemption for persons with disabilities at the level of taxable year 2025 or the first year they became eligible for the exemption, whichever is later

The property tax freeze applies to properties granted the disability homestead exemption for any taxable year beginning on or after January 1, 2025, as long as the property remains eligible in consecutive years

Property taxes may increase above the frozen amount only if the chief county assessment officer determines that substantial improvements were made to the property

The existing disability homestead exemption provides a $2,000 reduction from the property's equalized assessed value for eligible persons with disabilities who own and occupy the property as their primary residence

Takes effect immediately upon becoming law