Suburban collar county homeowners 65 and older will see the value of the senior citizen property tax exemption increase by $3,000 next year
Eligible homeowners 65 and older in the five suburban collar counties will see the value of their senior citizen property tax exemption increase by $3,000 next year.
The increase applies only to residents in counties that border Cook County, and assessment officials warn it likely won't reduce tax bills, just slow the growth. "It's still climbing like it has for years, but we are starting to see it flatlining a bit," said Helen Krengel, DuPage County's supervisor of assessments.
In DuPage County, that shift is to fewer taxpayers, because homeowners with a senior exemption make up 23.1% of all residential properties there, according to county assessment officials. That's compared to Lake County, where just 18% of all residential properties received a senior exemption last year, records show.
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