SB 1862 Illinois Senate · 104th Regular Session

PROP TX-30 YEAR HOMESTEAD

Summary
Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 6, 2025 Last action Oct 15, 2025
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Full legislative history

Actions timeline

Total actions
15
Key actions
0
Committee
1
Feb 6, 2025
Committee
Referred to Assignments
upper
1 primary · 11 co-sponsors

Sponsors