Budget & Taxes (Property Tax)

in committee · Illinois · Senate May 22, 2026

SB 2798: PROP TX-GENERAL HOMESTEAD

Amends the Property Tax Code. Provides that, for taxable year 2026, the maximum reduction for the general homestead exemption shall be $10,000 in all counties. Provides that, for taxable years 2027 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. Provides that, for assessment years following the next general assessment after the effective date of the amendatory Act, no increase in assessment may exceed 20% per year, subject to certain exceptions. Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that all surplus funds in the special tax allocation fund shall be distributed as soon as possible after they are calculated (rather than distributed annually within 180 days after the close of the municipality's fiscal year). Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps homestead tax relief at $10k (2026) with annual limits, restricting potential tax cuts85% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate May 22, 2026

SB 2745: PROP TX-DISABLED PERSONS

Amends the Property Tax Code. Provides that an applicant who receives the homestead exemption for persons with disabilities and who submits documentation by the examining provider that the applicant is totally and permanently disabled need not be reexamined to receive the exemption in a subsequent taxable year if (i) the applicant attaches the original documentation of total and permanent disability to his or her application in the subsequent taxable year, (ii) the exemption has not been deemed erroneous since the last application, and (iii) the claimant has not reported the claimant's ineligibility to receive the exemption.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides ongoing property tax exemption for disabled persons, reducing their tax burden without reapplication, aligning with tax relief for lower-income groups.92% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate Jun 1, 2026

SB 3042: PROP TX-POLICE AND FIRE

Amends the Property Tax Code. Creates a homestead exemption in the amount of a reduction of $5,000 from the equalized assessed value of property of the surviving spouse of a police officer or firefighter who is killed in the line of duty. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $5,000 property tax exemption for surviving spouses of fallen first responders, providing direct tax relief for eligible households.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Mar 27, 2026

HB 4492: PROP TX-SENIOR HOMESTEAD

Amends the Property Tax Code. Provides that property that qualifies for the senior citizens homestead exemption is exempt from taxation under the Code. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts senior citizens' homestead properties from property tax, providing direct tax relief for fixed-income seniors, aligning with support indicators for tax relief.95% confidence

Sub-Topics Property Tax Tags Seniors

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in committee · Illinois · Senate May 22, 2026

SB 2862: PROP TX-ABATEMENT

Amends the Property Tax Code. Provides that a municipality may, by ordinance, designate an area within its jurisdiction as a retail improvement abatement area if the area (i) is a contiguous area, (ii) consists of at least one-half square mile and  not more than 12 square miles, exclusive of lakes and waterways, and (iii) has a vacancy rate for retail properties that exceeds 40% at the time the ordinance is adopted. Provides that owners of retail property that is in a retail improvement abatement area may enter into one or more agreements with any of the taxing districts in which the property is located to abate all or a portion of the taxes levied by the taxing district on the subject property. Provides that the agreement shall require the property owner to make a special payment to the taxing district in lieu of the property taxes that would otherwise be imposed on the property.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax abatement for retail areas, a form of tax relief that reduces municipal tax revenue to incentivize development, aligning with tax relief indicators.85% confidence

Sub-Topics Property Tax Sales Tax Tax Incentives

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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 Mar 21, 2025

HB 1099: PROP TAX-HOMESTEAD EXEMPTION

Amends the Property Tax Code. In provisions concerning the Low-Income Senior Citizens Assessment Freeze Homestead Exemption, provides that the term "household" does not include an exempt family member who uses the residence as his or her principal place of residence for less than 12 months during the taxable year and that the term "household income" does not include the income of an exempt family member if the exempt family member used the residence as his or her principal place of residence for less than 12 months during the calendar year preceding the taxable year. Provides that the term "exempt family member" means the applicant's son, daughter, stepson, or stepdaughter and the spouse of the applicant's son, daughter, stepson, or stepdaughter. Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts homestead exemption eligibility by excluding family members with partial residency, reducing tax relief scope for low-income seniors.85% 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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