Illinois DOR Publishes Updated Guidance on Property Tax Credit for Homeowners

The Illinois Department of Revenue (DOR) published Publication 102, providing guidance on the Illinois Property Tax Credit available to homeowners on their individual income tax returns. The guidance clarifies that the credit equals 5 percent of Illinois property tax paid on a taxpayer’s principal residence, with eligibility restrictions for taxpayers whose adjusted gross income exceeds $500,000 for joint filers or $250,000 for all other returns, effective for tax years beginning on or after Jan. 1, 2017. [Ill. Dep’t of Revenue, Pub-108, Property Tax Credit, 12/01/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.