Sen. Connelly sponsors legislation to provide seniors with property tax relief
On February 17, State Senator Michael Connelly (R-Naperville) held a press conference in Naperville announcing two new pieces legislation that would provide property tax relief to seniors.
“I understand the property tax burden put on homeowners in my district and throughout the state of Illinois, especially on our seniors,” said Sen. Connelly.
Senator Connelly is the Senate sponsor of House Bill 2554 and House Bill 2563.
HB 2554 would change the Senior Homestead Exemption from $5,000 to $7,000 off of a senior’s equalized assessed value. Under this legislation seniors who are in a 10% property tax rate would see about a $200 savings in their annual property tax bill.
HB 2563 would change the qualifying total household income requirement for the Senior Homestead Exemption from $55,000 to $75,000. This legislation aims to provide even more seniors with property tax relief.
“Our seniors have paid into the system for years, helping to build great communities in which they live,” said Sen. Connelly. "These two pieces of legislation will provide some much needed relief to seniors living on fixed incomes who are in many instances being forced out of the homes they raised their families in because of skyrocketing property taxes."