Budget & Taxes (Property Tax)

in committee · Illinois · House Jan 14, 2026

HB 4317: PROP TX-ASSESSMENT LIMIT

Amends the Property Tax Code. Provides that the equalized assessed value of property in a general assessment year, other than long-term ownership property, shall not exceed the equalized assessed value of the property in the immediately preceding general assessment year, increased by the lesser of: (1) 3% of the equalized assessed value of the property for the immediately preceding general assessment year; or (2) the percentage increase, if any, in the Consumer Price Index during the 12-month calendar year preceding the general assessment year for which the property is being reassessed. Provides that the equalized assessed value of long-term ownership property in a general assessment year shall not exceed the equalized assessed value of the property in the immediately preceding general assessment year increased by 2% of the equalized assessed value of the property for the immediately preceding general assessment year. Defines "long-term ownership property". Preempts the power of home rule units to tax. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCaps annual property tax increases at 3% or CPI, providing tax relief for homeowners and limiting government revenue growth from property taxes.90% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate May 22, 2026

SB 2871: PROP TX-DISABILITIES-RENEWAL

Amends the Property Tax Code. Provides that provisions allowing a chief county assessment officer to renew the homestead exemption for persons with disabilities without an annual application apply permanently. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesAutomates renewal of disability homestead exemption, providing ongoing property tax relief for qualifying residents without additional state cost.95% confidence ✓ HousingSupports HousingSimplifies homestead tax exemption renewal for disabled homeowners, reducing housing costs and supporting property rights under housing policy framework.80% confidence

Sub-Topics Property Tax Property Taxes

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in committee · Illinois · Senate May 22, 2026

SB 2750: PROP TX-POLICE SPOUSE

Amends the Property Tax Code. Provides that property that is used as a qualified residence by the surviving spouse of a law enforcement officer who was killed in the line of duty at any time prior to the expiration of the application period in effect for the exemption for the taxable year for which the exemption is sought is exempt. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for surviving spouses of fallen officers, reducing their tax burden. Direct tax relief aligning with support indicators.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Apr 17, 2026

HB 3836: PROP TX-SENIOR HOMESTEAD

Amends the Property Tax Code. Provides that a person may apply for the senior citizens homestead exemption if the person is 64 years of age or older, as long as the person will be 65 years of age during the assessment year for which the exemption is sought. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for seniors (64+), reducing tax burden for lower-income seniors, aligning with tax relief support indicators.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Mar 25, 2026

HB 2536: PROP TX-SENIOR FREEZE

Amends the Property Tax Code. In provisions concerning the low-income senior citizens assessment freeze homestead exemption, provides that the Chief County Assessment Officer in a county with 3,000,000 or more inhabitants may request full social security numbers or individual taxpayer identification numbers for all members of the applicant's household. Provides that the Chief County Assessment Officer may renew the low-income senior citizens assessment freeze homestead exemption without a new application if the Chief County Assessment Officer is able to confirm both that the applicant still owns and resides in the property and that applicant's household income qualifies for the exemption. Provides that a Chief County Assessment Officer who renews a low-income senior citizens assessment freeze homestead exemption without an annual application shall notify the applicant of both the decision to renew the exemption and the applicant's ongoing duty to report changes in the eligibility of the property to receive the exemption.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for low-income seniors by freezing property tax assessments, aligning with tax relief indicators for lower income groups.90% confidence ✓ HousingSupports HousingBill provides property tax freeze for low-income seniors, making housing more affordable for them. Directly supports affordable housing for vulnerable seniors.90% confidence

Sub-Topics Property Tax Property Taxes

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in committee · Illinois · House Mar 21, 2025

HB 2529: PROP TX-SENIOR EXEMPT

Amends the Property Tax Code. Provides that, for taxable years 2026 and thereafter, the maximum reduction for the senior citizens homestead exemption is $8,000 in all counties (currently, $8,000 in counties with 3,000,000 or more inhabitants and counties that are contiguous to a county of 3,000,000 or more inhabitants and $5,000 in all other counties). Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases senior property tax exemption uniformly to $8,000, providing tax relief for fixed-income seniors across all counties.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Apr 17, 2026

HB 2363: DCEO-CAPACITY BUILDING GRANTS

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that, subject to appropriation, the Department of Commerce and Economic Opportunity, in consultation with the Department of Revenue, is authorized to create and award capacity building grants to municipalities whose equalized assessed value, total State sales tax disbursements, or both combined, decreased at least 30% over the 10 years preceding the issuance of the grant. Provides for the adoption of rules. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides state grants to municipalities with 30%+ tax revenue decline, using budget appropriations for capacity building. Directly funds local fiscal stability through targeted budget allocation.95% confidence

Sub-Topics Appropriations Property Tax Sales Tax

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in committee · Illinois · Senate May 22, 2026

SB 1694: TIF-DEVELOPER LOT INITIAL EAV

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that if (1) 3 or more improved lots, blocks, tracts, or parcels of real property within a single redevelopment project area are purchased by a developer or a developer's parent company or wholly-owned subsidiary, or any combination thereof, within the 3 years prior to the date that the ordinance providing for the tax increment allocation was adopted by the municipality, and (2) an improvement on any of the lots, blocks, tracts, or parcels of real property is demolished or otherwise rendered uninhabitable, then the initial equalized assessed value for the lot, block, tract or parcel of real property shall be the equalized assessed value of the lot, block, tract, or parcel of real property on the date it was purchased by the developer, the developer's parent company, or the developer's wholly-owned subsidiary or purchased by any combination thereof. Limits the provisions to ordinances adopted after the effective date of the amendatory Act.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends TIF rules to expand developer eligibility for tax increment financing, enabling fiscal tools for redevelopment projects under budget/tax management.92% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Mar 21, 2025

HB 3471: PROP TX-SENIOR FREEZE

Amends the Property Tax Code. Provides that, for taxable years 2026 and thereafter, provisions concerning erroneous homestead exemptions also apply to persons who received an erroneous low-income senior citizens assessment freeze homestead exemption in a county with less than 3,000,000 inhabitants. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends property tax relief for low-income seniors by correcting erroneous exemptions, aligning with tax relief indicators for lower income groups.90% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Mar 21, 2025

HB 1238: PROP TX-FLOOD HAZARD

Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $5,000 property tax exemption for flood zone homeowners, reducing their tax burden and providing direct tax relief per Property Tax Code amendment.95% confidence

Sub-Topics Property Tax

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