01/25/2008 - Legislature Increases Exemptions For Homeowners

The Illinois Legislature has recently passed legislation that will increase the Owner-Occupied Homeowner Exemption $500 to $5500 beginning with the 2008 tax levy year payable in 2009. In addition, the Senior Citizen Homeowners Exemption will increase $500 to $4000 beginning with the same tax levy year. Also, additional senior citizens should be able to qualify for the annually renewable Property Tax Assessment Freeze when the income qualification increases to $55,000 annual income for the 2008 tax levy year (current income qualification level is $50,000 and under). Additional details are available from the DeKalb County Supervisor of Assessments Office. A copy of an informational flyer from that office is attached.

These facts are just several of the important topics that will be covered at Saturday’s referendum information clinic, “By The Numbers”, co-sponsored by Community Unit School District 428 and ReNew Our Schools. Residents of the district are invited to take a tour of DeKalb High School between noon and 3:00 p.m. Finance and architectural experts will be on hand to answer questions in addition to district administrators, members of the Facilities Planning Committee, and ReNew Our Schools.

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