IllinoisIllinois would tie seniors' property tax exemption income limit to prices
Starting in 2029, seniors applying for Illinois's property tax exemption would have an income limit based on any increase in consumer prices and must meet the other eligibility rules.
What it does
Starting with taxable year 2029, the income limit for Illinois's senior property tax exemption would be calculated using any increase in consumer prices. Applicants must still meet the program's other requirements.
Argument forAn income limit that tracks rising prices could help seniors whose incomes rise with everyday costs remain eligible, if they meet the other requirements.
Argument againstA higher income limit could let more seniors qualify for the exemption, potentially reducing property tax revenue available for local services.
More detail
The maximum household income limit would be calculated using the prior year's limit and any increase in consumer prices. The limit applies to Illinois's low-income senior property tax exemption; applicants must also meet the program's other eligibility requirements. The calculation uses the Consumer Price Index for All Urban Consumers. If that index does not increase, the text provides for no increase to the limit. For taxable year 2029 and later, the calculation uses the price change over the 12 months ending in September of the calendar year before that taxable year.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 21Added as Co-Sponsor Sen. Seth LewisLatest
- Sep 2Added as Co-Sponsor Sen. Paul Jacobs
- Jul 13Added as Co-Sponsor Sen. Erica Harriss
- Jul 9Added as Co-Sponsor Sen. Dave Syverson
- Jun 29Added as Co-Sponsor Sen. Jason Plummer
- Jun 25Added as Co-Sponsor Sen. Sally J. Turner
- Jun 16Added as Chief Co-Sponsor Sen. Darby A. Hills
- May 22Rule 3-9(a) / Re-referred to Assignments
- May 15Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026
- Apr 24Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026
- Mar 13Rule 2-10 Committee Deadline Established As April 24, 2026
- Feb 24Assigned to RevenueMinor
- Feb 20Added as Co-Sponsor Sen. Chris Balkema
- Feb 20Added as Co-Sponsor Sen. Donald P. DeWitte
- Feb 17Added as Co-Sponsor Sen. Craig Wilcox
- Feb 6Referred to Assignments
- Feb 6First ReadingMinor
- Feb 6Filed with Secretary by Sen. Sue RezinIntroduced
Taxes & Budget