Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a special purpose extension made by a non-home rule municipality for mandatory contributions to a police pension fund or a firefighters' pension fund is not considered part of the municipality's aggregate extension, but only for the first year during which the levy is ever imposed by the non-home rule municipality. Provides that certain levies made under the Illinois Pension Code are not considered new rates.
Amends the Property Tax Code. Provides that, for taxable year 2025, the maximum reduction for the general homestead exemption shall be $10,000 in all counties. Provides that, for taxable years 2026 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.
Creates the Property Tax Relief and Fairness Referendum Act of 2026. Provides that the State Board of Elections shall cause a statewide advisory question of public policy concerning a general homestead exemption to be submitted to the voters at the general election to be held on November 3, 2026. Provides that the State Board of Elections shall immediately certify the question to be submitted to the voters of the entire State to each election authority in Illinois. Repeals the Act on January 1, 2027.
Amends the Property Tax Code. In provisions concerning wooded acreage assessment, provides that the assessed value of property that is subject to assessment under those provisions may not exceed the product of the assessed value of the property for the immediately preceding assessment year multiplied by 104%. Effective immediately.
Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.
HB 3305 requires "dark stores" (retail spaces used solely for online order fulfillment or vacant retail space) to be taxed as active properties starting in 2026, changing how these properties are assessed for property tax purposes. This directly affects businesses operating fulfillment centers for online orders and local governments collecting property taxes. The bill amends Illinois' Property Tax Code to define "dark store" and mandates these spaces be classified as active properties for tax assessment, ending previous treatment where they might have been taxed as vacant. The change takes effect immediately upon enactment, with the new assessment method applying to taxable year 2026 and beyond.
Amends the Property Tax Code. In a provision concerning the Low-Income Senior Citizens Assessment Freeze Homestead Exemption, provides that, beginning in taxable year 2026, the taxpayer's annual household income for purposes of determining eligibility for the exemption shall be reduced by any amounts paid by the taxpayer as Medicare premiums during the calendar year. Effective immediately.
Amends the Property Tax Code. In provisions concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that, for taxable years 2026 and thereafter, the maximum income limitation is $85,000 (currently, $65,000). Effective immediately.
Amends the Property Tax Code. Provides that property certified by the Department of Revenue as mega project property is eligible for an assessment freeze. Provides that, if property is certified as mega project property, then, during the incentive period, the value added to the property by the project shall not be considered for assessment purposes, and the total valuation of the property during the incentive period shall be limited to the base year valuation. Provides that "mega project" means a project that satisfies certain minimum investment, investment period, and other requirements. Contains provisions concerning incentive agreements between a company that plans to undertake a mega project and a local municipality obligating the company to make special payments in addition to property taxes. Effective June 1, 2025.
Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a property tax relief pilot program. Provides that eligible homeowners shall receive a one-time direct relief payment in an amount equal to a percentage, determined by the Department by rule, of the eligible homeowner's property tax liability for the 2025 tax year. Requires the Department of Revenue to submit a report in connection with the Program to the Governor and the General Assembly. Creates the Property Tax Relief Program Fund of 2026. Provides that moneys in the Fund shall be used by the Department for the purpose of making property tax relief payments. Amends the State Finance Act to make conforming changes.
