Bill Sponsors: IL SB2845 | 2023-2024 | 103rd General Assembly
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.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB2845 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB2845 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Senator Natalie Toro [D] | Primary | Sponsored Bills | SD-020 | N/A | Ballotpedia | VoteSmart |