Counties are making changes that will benefit the seniors when it comes to real estate taxes.
To date Cook County increases the Homestead Exemption to $10,000 (this applies to all owner occupied residences), the Senior Exemption increases to $8,000 and the Senior Freeze income threshold increases to $65,000.
It appears that all counties will increase the Senior Freeze income threshold to $65,000 from $55,000 for 2018.
With these changes AND the 2018 Tax Reform, I will encourage everyone to set their complimentary tax review after May 1st so you can strategize for the remainder of 2018.