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SB 2701

PROP TX-SENIOR EXEMPTION

104th Regular Session Introduced by Chris Balkema

SB 2701 modifies Illinois's senior property tax exemption program; specific provisions await Revenue committee review.

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Bill Summary · SB 2701

Legislative bill overview

SB 2701 proposes modifications to Illinois's senior property tax exemption program. The bill, introduced by Sen. Chris Balkema, was filed in October 2025 and is currently assigned to the Revenue committee as of January 2026. The specific provisions of the bill are not detailed in the available action records.

Why is this important

Senior property tax exemptions directly affect housing affordability and tax burden for older Illinois residents on fixed incomes. Changes to exemption eligibility, thresholds, or benefit levels could significantly impact senior homeowners' annual tax obligations and local government revenue.

Potential points of contention

  • Income or asset eligibility thresholds: Any changes to who qualifies could expand or restrict the program, creating debate over fairness and fiscal impact
  • Exemption amount or percentage: Modifications to how much tax relief seniors receive affects both taxpayer savings and municipal revenue streams
  • Local government revenue impact: Expanding exemptions reduces property tax revenue for schools and local services, potentially requiring alternative funding sources

Compiled from official sources — confirm details with the bill’s official record.

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