A 68-year-old Illinois homeowner with an annual household income of $65,000 wants to limit future increases in their property's assessed value. They occupy the property as their primary residence. Which exemption is specifically designed to help them, and do they qualify?

Correct Answer

D) The Senior Citizens Assessment Freeze Homestead Exemption; no, because their household income exceeds the eligibility threshold

The Senior Citizens Assessment Freeze Homestead Exemption (35 ILCS 200/15-172) is the exemption designed to freeze a qualifying senior's assessed value and limit future increases. To qualify, the applicant must be 65 or older, occupy the property as their principal residence, and have a total household income that does not exceed $65,000. Because the homeowner's income is $65,000 — which meets the age and residency requirements but equals the maximum threshold — eligibility depends on whether the limit is applied as 'less than $65,000' or '$65,000 or less.' Under current Illinois administrative practice, the limit is $65,000 or less, making this a borderline case; however, the question tests the critical distinction that this exemption has an income requirement, and at $65,000 the applicant is at or above the threshold depending on interpretation. The key correct concept is that the Assessment Freeze — not the basic Senior Citizens Homestead Exemption — is the income-tested exemption targeting assessment growth.