Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

35 ILCS 250/20

(35 ILCS 250/20)

Sec. 20. Conditions of deferral or exemption.

(a) Any deferral or exemption of payment of an increase in real property
taxes granted under this Act shall be limited to real property that meets both
of the following conditions:

(1) The property is owned and occupied by a longtime

owner-occupant.

(2) The property is the principal residence and

domicile of the longtime owner-occupant.

The corporate authorities of a county, by ordinance or resolution, may
impose additional criteria for qualifying for a deferral or exemption under
this
Act including, but not limited to, (i) requiring the owner-occupant to have
owned and occupied the same dwelling place as principal residence and domicile
for a period of more than 10 years, (ii) establishing age criteria for
eligibility of an owner-occupant, and (iii) establishing income criteria for
eligibility of an owner-occupant. A deferral or exemption, or combination thereof, under an ordinance or resolution adopted pursuant to this Act, may not exceed $20,000 in equalized assessed value per tax year.

(b) No penalties or interest shall accrue on the portion of any deferral
granted under this Act.

(c) Except as provided in subsection (d) of Section 15, school districts
and municipalities within a county to which this
Act applies may determine whether financial need, age, or both, of the
longtime owner-occupant shall be used to determine eligibility.

(Source: P.A. 93-715, eff. 7-12-04; 94-1074, eff. 12-26-06.)