042313js103rSPRINGFIELD - In an effort to save homeowners money, State Senator Toi Hutchinson (D - Chicago Heights), passed a law increasing the General Homestead Exemption and the Senior Citizen Homestead Exemption.   

“This property tax break is one way to put more money in people’s pockets who are struggling in this economy,” Hutchinson said.  

Under Senate Bill 1894, the General Homestead Exemption will increase by $1,000 to $7,000 for Cook County homeowners. Homeowners outside of Cook County will see an increase in tax year 2013.

In addition, the Senior Citizen Homestead Exemption will increase for homeowners across the state by $1,000 to $5,000. In tax year 2010, there were 244,290 Senior Homestead Exemptions claimed in Cook County and 730,564 statewide.  

The governor signed Senate Bill 1894 into law today.

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