Pritzker signs measure expanding property tax exemption for seniors, veterans and those with disabilities – Center Square

Senate Bill 1975, signed by Gov. J.B. Pritzker Friday, increases the general homestead exemption and senior citizens homestead exemption, reduces interest rates on tax deferrals for seniors and allows for automatic renewal of the homestead exemption for qualifying people with disabilities in Cook County, according to the governor’s office.
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Fed up neighbor
1 year ago

I don’t know none of it makes sense to me, counties bordering cook county the homestead exemption goes from 6,000 to 8,000 and the senior exemption from 5,000 to 8,000 for collar counties. The counties that would qualify and benefit from these updated exemptions would be only Dupage, Kane, Lake, McHenry and Will counties they border cook county and are the collar counties. Anyone have any input what about all the other counties in Illinois, sounds like campaign swindling on Pritzker’s part to fool people.

Last edited 1 year ago by Fed up neighbor
Freddy
1 year ago

Not sure what this exactly means but Cook county seems to benefit the most considering the county has over 3M population. What will the exemption be for Boone and Winnebago county? In Ptell counties if the exemption increases or an abatement is given that means the property tax RATE increases to compensate the lower overall EAV. A long while back when the senior exemption increased by $1K Winnebago county lost $24M in EAV since 24K seniors benefited from the reduction but the tax rate went up. This will probably be advertised en masse to the voters before the election and… Read more »

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