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This does not pertain to Saddlebrook Farms
New Property Tax Exemption Laws Provide More
Tax Relief to Low-Income Senior Citizens
Lake County Township Assessor’s Association is pleased to announce great news for our senior citizen homeowners! To provide additional property tax relief to homeowners on fixed incomes who are 65 years of age or older, the newly revised statute will increase the maximum household income eligibility requirements.
Beginning in 2026, the total maximum household income for the Low-Income Senior Citizen Assessment Freeze has been increased to $75,000 with additional increases in future years!
Updated Maximum Household Income
Tax Year
2025
2026
2027
2028
Maximum Household Income
$65,000
$75,000
$77,000
$79,000
Benefits of Exemption
Property’s assessed value is “frozen” at a “base year”, meaning that the taxable value does not change, providing protection from increases in assessed value and resulting in a more stabilized property tax bill. Note: This exemption does not “freeze” your taxes, it only “freezes” your taxable assessed value.
Eligibility Requirements:
To be eligible the applicant must be 65 years of age or older; own and occupy the home as primary residence; and have a total household income of $75,000 or less (2026)
Required Documentation
The documentation required is a state-issued ID showing first Jan 1st ownership; 2025 Federal 1040 income tax forms for all people living in household; and trust documents proving beneficial interest (only applicable for those with homes owned in trust)
How to Apply
This exemption must be renewed each year. Apply in-person at your local Township Assessor’s Office (no appointment required), or apply online at www.assessor.lakecountyil.gov
via Lake County’s SmartFile E-Filing System.
Senior Homestead Exemption
The Senior Homestead Exemption is available for any person 65 years of age or older who owns and occupies their home as their primary residence. There is no income limit for this exemption. Anyone 65 years of age or older may apply.
Additional Updates to the Senior Citizens Real Estate Tax Deferral Program
Recent updates also apply to income limits on the Senior Citizens Real Estate Tax Deferral Program. The deferral program functions like a loan against the property’s market value. Deferred amounts are “borrowed” from the state of Illinois, who pays up to $7,500 of the tax bill which is repaid after sale of home. More information on this program can be found through the Lake County Treasurer’s website.
Joseph Herchenbach, CIAO
Fremont Township Assessor
22385 Illinois Route 60
Mundelein, IL 60060
847-223-2846
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