SPRINGFIELD – More Illinoisans could qualify for two state property tax relief programs under legislation from State Senator Laura Murphy (D-Des Plaines) to raise the maximum income limitations for the Senior Citizens Real Estate Tax Deferral and the Senior Citizens Assessment Freeze Homestead Exemption.
“As many households recover from the devastating economic impacts of the pandemic, it’s critical that we offer a hand however we can,” Murphy said. “These programs already provide relief to older residents across the state—it’s time to bump up the income thresholds and allow more people to benefit.”
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.
“The Senior Citizens Real Estate Tax Deferral and the Senior Citizens Assessment Freeze Homestead Exemption aim to help the same groups of Illinoisans. It makes sense that if you’re eligible for one program, you should be eligible for the other,” Murphy said.
Senate Bill 2244 passed the Senate Revenue Committee Wednesday and now heads to the Senate for a vote.