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New Exemption Laws Provides More
Tax Relief to Low-Income Senior Citizens
Great news for our senior citizen homeowners! To provide additional 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 Maximum Household income
2025 $65,000.00
2026 $75,000.00
2027 $77,000.00
2028 $79,000.00
Benefits of the 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, only your taxable assessed value.
Eligibility Requirements:
Be 65 years of age or older
Own and occupy home as primary residence
Have a total household of $75,000 or less (2026)
Required Documentation
State-issued ID
2025 Federal 1040 income tax forms for all people living in household
Trust documents (only applicable for those with homes owned in trust)
How to Apply
This exemption must be renewed each year. Apply in-person our office (no appointment required), or apply online at Assessor.lakecountyil.gov
Senior Homestead Exemption
In addition to the Senior Freeze, 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.
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 similar to 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. Information on this program can be found through the Lake County Treasurer website.
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