IL SB1807

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

Amends Section 15-172 of the Illinois Property Tax Code, which governs the Low-Income Senior Citizens Assessment Freeze Homestead Exemption

The exemption freezes the assessed value of a senior's home at a base year amount, preventing property tax increases due to rising assessments for qualifying homeowners

Eligibility requires homeowners to be 65 years or older, own and occupy the property as their principal residence, and have household income below the maximum limitation

Takes effect immediately upon becoming law