Bill Heads to State Senate for Consideration
Springfield, IL-(ENEWSPF)- Every homeowner in the state would receive a break from high property taxes under a comprehensive tax relief package passed by state Rep. Anthony DeLuca, D-Chicago heights, increasing the value of key property tax credits for families, seniors and veterans. While Gov. Bruce Rauner has discussed freezing property taxes, DeLuca’s action goes further to actually cut property taxes and reduce the burden on local homeowners.
“Families in Illinois deserve a break, and this legislation will positively affect every homeowner in Illinois,” DeLuca said. “Property taxes have continued to rise over the years, resulting in some families having to move because they can no longer afford the taxes on their homes. It is time we provide relief to all hard working families.”
DeLuca voted to pass the comprehensive package of property tax relief measures. This bill provides homeowners with relief above and beyond the freeze discussed by the governor, by increasing the value of key property tax exemptions that help homeowners reduce the taxable value of their homes and cut their taxes. Beginning in 2018:
- All homeowners would be eligible for an annual $8,000 exemption on their primary residence;
- Seniors on fixed incomes would see lower property tax bills, as an exemption for homeowners over the age of 65 would increase from $5,000 to $6,000 annually;
- More veterans would be able to receive property tax relief, as returning service members certified 20-30 percent disabled who are currently ineligible for property tax relief would be provided a $2,500 annual exemption. All veterans over the age of 75 would be able to receive a $2,500 exemption as well.
House Bill 156 also creates a new property tax freeze for disabled homeowners receiving Supplemental Security Income from the federal government, and expands tax credits provided to those who have lived in their residence for 8 years or more.
“Protecting low-income families continues to be one of my top priorities as a legislator,” DeLuca said. “I will continue to work with both sides of the aisle and fight for lower property taxes for the hard working families of Illinois.”
DeLuca’s bill received bipartisan support in the House, and now awaits consideration in the Senate.