SPRINGFIELD – To reduce property tax burdens for more Illinois homeowners, State Senator Laura Murphy (D-Des Plaines) advanced a measure out of the Senate Wednesday to raise the maximum income limitations for the Senior Citizens Real Estate Tax Deferral and the Senior Citizens Assessment Freeze Homestead Exemption.
“The past year was particularly hard on older Illinoisans, and as a result, many are struggling to make ends meet,” Murphy said. “Expanding eligibility for the Senior Citizens Real Estate Tax Deferral and the Senior Citizens Assessment Freeze Homestead Exemption can help lift some of that burden.”
Starting this year, Murphy’s measure would raise the maximum income limitation for the Senior Citizens Assessment Freeze Homestead Exemption from $65,000 to $75,000 for Illinoisans 65 and older living outside Cook County. Starting next year, the new, higher limit would apply statewide.
The legislation would also raise the income limit for the Senior Citizens Real Estate Tax Deferral Act, bringing it in line with the homestead exemption to simplify the process for low- and moderate-income older residents seeking relief.
“Homeowners shouldn’t have to wade through complicated income tables and eligibility requirements to find out if they qualify for relief. This legislation brings the Senior Citizens Real Estate Tax Deferral and the Senior Citizens Assessment Freeze Homestead Exemption in line with each other to simplify the process,” Murphy said.
Senate Bill 2244 passed the Senate and now heads to the House.