In an effort to protect seniors from rising costs, legislation co-sponsored by Senator Syverson would ensure Illinois’ low-income senior citizens assessment freeze keeps pace with inflation.

Senate Bill 4029, would automatically adjust the income eligibility cap for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption based on inflation beginning in tax year 2029. By tying the income threshold to the Consumer Price Index, this measure prevents seniors from losing eligibility due to cost-of-living increases.

During the fall veto session, Senator Syverson supported legislation that increased the income caps for the senior assessment freeze. Under current law, the income cap for the senior assessment freeze is set at $75,000 for tax year 2026, $77,000 for 2027, and $79,000 beginning in 2028. Senate Bill 4029 would ensure that starting in 2029, the income threshold automatically adjusts each year based on inflation, preventing seniors from losing eligibility as everyday costs continue to rise. 

Senate Bill 4029 is currently awaiting assignment to a Senate committee.