Also going to the Governor,
Illinois SB 107. Changes the disable Veteran's homestead property tax credit from:
- 50%-69.99% Service Connected - $2500 credit
- 70% and above Service Connected - $5000 credit
to
- 30%-49.99% Service Connected - $2500 credit
- 50%-69.99% Service Connected - $5000 credit
- 70% and above Service Connected - No property taxes
Effective for the 2015 taxes.
There is also an open Illinois Senate bill,
SB 1903, that would exempt any property owned by a Veteran that has a rating of 30% or more service connection from property taxes.
I'm all in to giving disabled veterans anything they need....Same as they did for me.
(06-01-2015, 09:04 AM)AcilletaM Wrote: [ -> ]Also going to the Governor, Illinois SB 107. Changes the disable Veteran's homestead property tax credit from:- 50%-69.99% Service Connected - $2500 credit
- 70% and above Service Connected - $5000 credit
to- 30%-49.99% Service Connected - $2500 credit
- 50%-69.99% Service Connected - $5000 credit
- 70% and above Service Connected - No property taxes
Effective for the 2015 taxes.
There is also an open Illinois Senate bill, SB 1903, that would exempt any property owned by a Veteran that has a rating of 30% or more service connection from property taxes.
Gov Rauner signed this into law on Sunday along with
5 others including a law establishing a veterans and active duty discount card program for use at participating merchants.
I can see a big problem, if it exempts any property. For instance, families would place the title in disabled veterans names for all properties held. Thus avoiding any property taxes. I could go along if it only covers the primary residence of the veteran. Commercial, Industrial and Rental Properties would not qualify. Otherwise I foresee widespread abuse.
(08-17-2015, 11:18 AM)BelieveIn308 Wrote: [ -> ]I can see a big problem, if it exempts any property. For instance, families would place the title in disabled veterans names for all properties held. Thus avoiding any property taxes. I could go along if it only covers the primary residence of the veteran. Commercial, Industrial and Rental Properties would not qualify. Otherwise I foresee widespread abuse.
It doesn't apply to commercial or industrial properties, the Vet or the unremarried spouse of a deceased Vet must reside there, and the property's appraised value must be below a certain value.
I'd agree with keeping the ccl and dl separate.. But it would be very nice to do away with the foid card in my wallet...