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IL HB4492

Bill

Official Source

Status

Introduced

1/20/2026

Primary Sponsor

Paul Jacobs

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Illinois Property Tax Code to provide a complete property tax exemption for homeowners age 65 and older starting in taxable year 2026
  • Currently, senior homestead exemptions reduce assessed value by $8,000 in Cook County and contiguous counties, and $5,000 in all other counties
  • Qualifying seniors must own and occupy the property as their primary residence and be liable for paying real estate taxes
  • The exemption continues if the qualifying senior moves to a licensed care facility, as long as their spouse (65+) remains in the home or the property stays unoccupied but owned by the senior
  • Takes effect immediately upon becoming law

Legislative Description

PROP TX-SENIOR HOMESTEAD

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/27/2026

Committee Referrals

Rules3/27/2026
Revenue & Finance3/18/2026
Rules1/20/2026

Full Bill Text

No bill text available