Please Call Your Illinois Senator NOW
By Joe Kenny, Better Than Your Average Joe
(Realty Executive Midwest)
House Bill 506 is currently in the Illinois Senate’s Executive Committee waiting to be voted on (SB 395) . This is for fraudulent homestead exemptions. It passed in the House of Representatives last year and stalled in the Senate. The Illinois Association of Realtors supports homestead exemptions for homeowners and feel it’s a great benefit. The IAR has supported legislation in the past that made homestead exemption data more readily available. Erroneous homestead exemptions is a entirely different matter. The IAR doesn’t support homeowners claiming more than one exemption and have major concerns as to how the bill was drafted.There is nothing in the bill that prevents a homeowner from knowingly or unknowingly filing more than one homestead exemption. There needs to be a reaffir...
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