Most Active Stories
- Winter Weather: Skies Clear for Sunny Saturday, Be Careful on Roads
- Winter Storm Closings and Cancellations
- Global Laser Enrichment Could Bring New Laser-Based Technology to Paducah Gaseous Diffusion Site
- Christian County Officials To Develop Contingency Plan in Event of DoDEA Cuts
- Local Road and Power Resources For Winter Weather
Wed April 24, 2013
Illinois Seniors Get Bigger Break on Property Tax
Legislation designed to reduce property tax bills for Illinois seniors is now law.
The bill raises the homestead exemption for Illinois residents age 65 and older from $4,000 to $5,000. Gov. Pat Quinn signed it into law Tuesday. The move could save seniors roughly $200 a year.
The new law also raises the general exemption in Cook County starting in 2014. The county has a 7 percent exemption cap while everywhere else in the state there's a flat exemption of $6,000. Now Cook County has a flat exemption of $7,000.
Quinn says home ownership is key to strong neighborhoods.