Senator Murphy in a committee hearingDES PLAINES – More senior citizens could save money on their property taxes under legislation filed by State Senator Laura Murphy (D-Des Plaines).

Murphy’s proposal raises the income limit to $75,000 for senior citizens to claim the assessment freeze homestead exemption on their property taxes. The cap currently is $65,000.

“I think the legislature should do more to help seniors stay in their homes and not be pushed out by rising home values and property taxes,” Murphy said. “That’s why I introduced a plan to raise the income cap for the senior freeze exemption.”

The senior citizens assessment freeze homestead exemption allows qualifying senior citizens to maintain the equalized assessed value of their home. This prevents increases in home valuations and property taxes.

Senate Bill 2305 has an immediate effective date upon approval by the legislature and governor.

 

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Office Info

Springfield Office:
M118 Capitol Building
Springfield, IL 62706
(217) 782-3875

District Office:
880 Lee St. Suite 100
Des Plaines, IL 60016

(847) 718-1110