Rep. Severin cited the unusually high property taxes seen in Illinois compared to surrounding states and said the legislature needs to relieve some of this burden on the older groups.
“Illinois has some of the highest property taxes in the nation,” Severin said. “These taxes can be crippling for many people, especially senior citizens living on fixed incomes. As lawmakers this is the least we can do for our seniors and veterans.”
HB 156 would increase homestead exemption for senior citizens from $5,000 to $6,000. The bill also provides that the homestead exemption will provide additional tax relief to veterans over the age of 75.