By Rock Island Today Reports |
Jun 27, 2024
For more than 30 years, many seniors in Illinois have been eligible for a Low-Income Senior Citizens Assessment Freeze Homestead Exemption on their taxes. To qualify, a person 65 or older must be the owner of record of the property (or have legal or equitable interest in it) and must be liable for paying the real estate taxes on the property. The law allows qualified seniors to have their home’s equalized assessed value (EAV) frozen to avoid significant increases in taxes due to inflation.