IL HB5245

Amends the Property Tax Code to create "level billing" for households qualifying for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption, capping property tax bills at the prior year's amount starting in tax year 2026

Property tax bills may only increase if the owner or occupant makes assessed improvements to the property, and increases are limited to the value of those improvements

Eligibility for level billing is contingent on maintaining qualification for the existing Senior Citizens Assessment Freeze; losing that exemption ends the level billing benefit

Requires county assessors and county collectors to cooperate in implementing and maintaining the level billing program