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Deductions & credits
Which part is different?
The Illinois Property Tax Credit is equal to 5 percent of Illinois Property Tax (real estate tax) you paid on your principal residence.
You must own and reside in your residence in order to take this credit. For tax years beginning on or after January 1, 2017, the Illinois Property Tax Credit is not allowed if a taxpayer's federal Adjusted Gross Income (AGI) exceeds $500,000 for returns with a federal filing status of married filing jointly, or $250,000 for all other returns.
Also, The Illinois property tax is a non-refundable credit . Nonrefundable credits can only take your tax liability to zero. They do not create a refund.
For more information see Schedule ICR, Illinois Credits, Schedule ICR Instructions,
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March 12, 2025
1:50 PM