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RESOLUTION NO. 27-75 <br />A RESOLUTION URGING THE GENERAL ASSEMBLY OF THE STATE OF ILLINOIS <br />TO AMEND CHAPTER 120, SECTION 500.23-1 OF THE ILLINOIS REVISED STATUTES <br />TO PROVIDE INCREMENTAL INCREASES IN THE PRESENT EXEMPTION OF $1,500 <br />TO SENIOR CITIZENS <br />WHEREAS, the problem of primary concern to the largest number of Elk <br />Grove Village senior citizens is Real Estate Tax Relief and this burden <br />appears to be the focal point of their economic dilemma because (1) it is <br />a sizable portion of the senior citizens total living expenses, and (2) it <br />is a problem shared by nearly all the senior citizens since most of them <br />are homeowners and all require housing; and <br />WHEREAS, it has been recommended to the President and Board of Trustees <br />of the Village of Elk Grove Village that appropriate action be taken to <br />raise the Homestead exemption to $10,000 for persons 65 years or older as <br />provided by the Illinois Revised Statutes. <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois that the General Assembly of the State of Illinois be urged to amend <br />Chapter 120, Section 500.23-1 of the Illinois Revised Statutes to provide <br />incremental increases in the present exemption of $1,500 Homestead Exemption <br />as follows: <br />EFFECTIVE <br />DATE <br />PROPOSED TOTAL EXEMPTION <br />JANUARY 1, <br />1975 <br />$2,500 <br />JANUARY 1, <br />1977 <br />5,000 <br />JANUARY 1, <br />1979 <br />7,500 <br />JANUARY 1, <br />1981 <br />10,000 <br />BE IT FURTHER RESOLVED that copies of this resolution be forwarded to <br />members of the General Assembly of the State of Illinois, the Cook and DuPage <br />County Boards, and neighboring i-Inicipalities of Elk Grove Village. <br />PASSED this 25th day of March <br />APPROVED this 25th day of <br />ATTEST: <br />Village Clerk <br />1975. <br />March 1975. <br />T <br />Village President',' <br />