Low-Income Senior Citizens Assessment Freeze Homestead Exemption
Who qualifies
- Age
- 65 or older
- Income limit
- $75,000Total household income limit of $75,000 or less for taxable year 2026. IDOR PIO-74 lists scheduled increases to $77,000 (2027) and $79,000 (2028 and thereafter).
- Ownership
- Own or have a legal/equitable interest and use the property as a principal residence.
- Residency
- Owner-occupant age 65+ during the tax year, occupying as principal residence, liable for taxes, meeting the household income limit; must have owned/occupied since the base year.
How much it saves
No dollar estimate. This freezes your home's taxable value at the year you qualify, so savings grow over time and can't be stated as a single dollar figure.
How to apply
- Application required: Yes
- Deadline: Annual filing of Form PTAX-340 with the Chief County Assessment Office each year.
- Renewal: annual — Must be re-applied for annually (Form PTAX-340).
Combining with other exemptions
May be received in addition to the General Homestead and Senior Citizens Homestead exemptions.
Official sources:
Amount cross-checked against a second official artifact: ilga.gov/legislation/ilcs/fulltext.asp.
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.