IL SB2751

Amends the Low-Income Senior Citizens Assessment Freeze Homestead Exemption in the Property Tax Code to add automatic annual inflation adjustments starting in taxable year 2029.

Beginning in 2029, the maximum income limitation will be calculated by multiplying the previous year's limit by one plus the percentage increase in the Consumer Price Index-U for the 12-month period ending in September of the preceding calendar year.

The income limits leading up to the change are: $75,000 for 2026, $77,000 for 2027, and $79,000 for 2028.

Adds a formal definition of "Consumer Price Index-U" as the Bureau of Labor Statistics index measuring average price changes for goods and services purchased by all urban consumers.

Effectiveness is contingent on Senate Bill 642 of the 104th General Assembly becoming law in the form it passed both houses on October 31, 2025.