Variations in Receipt of Benefit
Benefit Varies with Income
Minimum Tax Amount Must be Paid
This program provides an annual grant to qualifying residents. Tax relief is lesser of the following two formulas: (1) the amount by which property tax liability exceeds the threshold of 3.5% of income; or (2) $700 minus 4.5% of income if income is less than $14,000 or $70 if income is over $14,000 but less than the maximum level. The maximum benefit is $700. The formula assumes property tax is 25% of rent.
How is Benefit Disbursed
Direct payment to taxpayer
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
Applicants can be renters or homeowners, but must be at least 65 years of age, or disabled, or the widow or widower turned 63 or 64 of an eligible person. Income ceilings are based on number of occupants: $21,218 for those living alone; $28,480 for 2 occupants; and $35,739 for 3 or more occupants.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The Illinois Department of Revenue will disburse payment of a property tax grant in the name of the claimant. Subject to annual appropriation.