PRESS RELEASE | Dec 30, 2014
State of Illinois
State of Illinois
CHICAGO – Governor Pat Quinn today signed legislation to support secure homeownership for veterans with disabilities and their families. The new law expands property tax exemptions for veterans with disabilities, which will reduce the financial burden of homeownership. Today’s action is part of Governor Quinn’s agenda to honor and support the men and women who have served our nation.
“When our brave men and women return from service, they deserve a safe place to call home,” Governor Quinn said. “Those of us on the homefront have a duty to take care of our servicemembers who have borne the battle. This new law is another way we can support veterans with disabilities by ensuring that Illinois’ heroes aren’t burdened by overwhelming property taxes.”
Senate Bill 2905, sponsored by State Senator Michael Hastings (D-Matteson) and State Representative Stephanie Kifowit (D-Aurora), expands property tax exemptions for veterans with disabilities and their spouses, increasing the disabled veterans’ homestead exemption from $70,000 to $100,000. The law also expands the disabled veterans’ homestead exemption to housing donated to veterans with disabilities by charities.
Senator Hastings, who is a military veteran, introduced the legislation after hearing from a veteran who was 100 percent disabled and unable to pay the property taxes on a home that had been equipped for his disability and given to him by a charity. The law also extends the disabled veterans’ standard homestead exemption to a veteran’s spouse in the event of the veteran’s service-related death.
http://www3.illinois.gov/PressReleases/PressReleasesListShow.cfm?RecNum=12922
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