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 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, 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 at my 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.
We Serve the Public
My office is committed to serving the public with transparency, accuracy, and care. Whether you have questions about your property’s assessed value, the taxation process, or need help navigating exemption applications, we’re here to assist. Please feel to contact my office.
Lake County Website for Property Information
- Assessment, Real Estate Taxes, and Property Tax Extension data
http://www.tax.lakecountyil.gov
Jeffrey A. Lee
37850 N. IL Rte. 59
Lake Villa, IL 60046
Phone: 847-356-2383
Email: Assessor@lakevillaassessor.org
Office Hours: Monday – Friday 8:00 am to 4:00 pm