•March 27, 2019•

By Peter Hancock
Capitol News Illinois

The Illinois Senate is poised to take up a bill that would make it easier for some seniors to access a state program that limits property tax increases on their homes.
Under current law, people age 65 and older with incomes up to $65,000 can claim the Senior Citizens Assessment Freeze Homestead Exemption, which effectively freezes the taxable valuation of their homes so that their tax bills cannot go up simply because the market value of their home rises.
Senate Bill 1346, which cleared the Senate Revenue Committee on Wednesday, would expand that slightly, starting in the 2019 tax year, by allowing seniors to deduct from their income whatever money they spend on Medicare premiums. That would allow some people with incomes just above the $65,000 cap to claim the exemption.     Login or Subscribe to read the rest of this story.