ALTON, Ill. - In an effort to relieve the property tax burden on seniors, State Rep. Dan Beiser, D-Alton, is co-sponsoring House Bill 4209, which increases the annual income limit for the Senior Citizen Real Estate Tax Freeze Exemption Program.
"Senior citizens have worked their entire lives in an effort to enjoy retirement, yet many struggle with high property tax burdens," Beiser said. "This legislation would ease that burden by extending the Senior Real Estate Tax Freeze to more people."
Get The Latest News!
Don't miss our top stories and need-to-know news everyday in your inbox.
HB 4209 amends the Property Tax Code and the Senior Citizens Real Estate Tax Deferral Act by increasing the maximum income requirement from $55,000 to $60,000. It applies to residents age 65 and older whose overall income is $60,000 in taxable year 2014 and thereafter. The law also applies to persons who have legal or equitable property as lessee and is liable for the payment of real taxes on the property. The last increase occurred in 2008.
"In the last six years we have not seen an increase in the exemption amount of this program, yet we have all experienced an escalation in the cost of living and the inflation rate," said Beiser. "This is a reasonable and justifiable change that can make a big difference in the lives of seniors."
More like this:
