Legislation aimed at limiting property tax increases for senior citizens has moved forward in the State Senate. Senator Chuck Gross of St. Charles sponsors “The Homestead Preservation Act,” which would help senior citizens who are faced with huge property tax increases, by providing them with tax credits should their property taxes rise by more than 5-percent in a given year. Gross isn’t quite sure how much this would cost, but believes it would be money well spent. Under the proposal, an individual must be 65-years-old or disabled, earning between $25,000 and $50,000. For couples, both must be 65 or disabled, with a combined income between $27,000 and $54,000 a year.
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