SB2845 - PROP TX-LONG-TIME OCCUPANT
Illinois - 103rd General Assembly
Introduced byNatalie Toro
Last updated 8 months ago
1 Co-Sponsor
Amends the Property Tax Code. Provides that, for the purpose of calculating the long-time occupant homestead exemption, the adjusted homestead value shall be calculated by increasing the base homestead value by (i) 5% (currently, 10%) for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000 or (ii) 3% (currently, 7%) for qualified taxpayers with a household income of $75,000 or less. Effective immediately.
STATUS
Introduced
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