Illinois homestead exemptions for rental by family members?

[Scott Shold]

Hello BP community. Interested in finding out if anyone has had general homestead exemptions and or senior citizen homestead freezes applied to their property taxes for a family member that rents a SFR from them in Illinois. Realize this pool of people may be very limited, but still worth a shot. The follow up is how it was set up in the rental agreement and what else is needed ongoing. From what I can read in the tax code it seems possible with the homestead exemption here:

This annual exemption is available for “residential property that is occupied by its owner or owners as his or their principal dwelling place, or that is a leasehold interest on which a single family residence is situated, which is occupied as a residence by a person who has an ownership interest therein, legal or equitable or as a lessee, and on which the person is liable for the payment of property taxes.” (35 ILCS 200/15-175) The amount of exemption is the increase in the current year’s equalized assessed value (EAV), above the 1977 EAV, up to a maximum of $7,000 in Cook County and $6,000 in all other counties.

Our scenario is my mother and step dad live in a SFR of ours and their rent is solely based on the total costs of the property (mortgage, insurance, and property taxes). We pay for any appliances, etc. that need to be replaced like in most any rental agreement. They are also both 65 so the senior citizen exemptions would apply if possible. It may appear that I would just need to have the taxes sent to them since they would then be a lessee that is liable for the payment of property taxes.? Thanks in advance.