Bill Title: 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.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2025-01-07 - Session Sine Die
[SB2845 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2024-01-19 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois SB2845 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB2845 currently on file. |
