PROP TX-LIMIT ASSESSMENTS
Summary
Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 21, 2025
Last action Mar 27, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
24
Key actions
2
Committee
7
Mar 27, 2026
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 26, 2026
Lower · Passed
To Tax Policy: Other Taxes Subcommittee
lower
Feb 24, 2026
Committee
Assigned to Revenue & Finance Committee
lower
Mar 21, 2025
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 3, 2025
Lower · Passed
To Tax Policy: Other Taxes Subcommittee
lower
Feb 18, 2025
Committee
Assigned to Revenue & Finance Committee
lower
Jan 28, 2025
Committee
Referred to Rules Committee
lower
1 primary · 14 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Brad Halbrook
RRepublican
Co
Adam Niemerg
RRepublican
Co
Amy Grant
RRepublican
Co
Blaine Wilhour
RRepublican
Co
Brad Fritts
RRepublican
Co
Brandun Schweizer
RRepublican
Co
Chris Miller
RRepublican
Co
David Friess
RRepublican
Co
Dennis Tipsword
RRepublican
Co
John Cabello
RRepublican
Co
Kevin Schmidt
RRepublican
Ask Maddy
·
AI policy assistant
Ask Maddy about HB 1496
Scope: IL
Hi! I can help you understand HB 1496. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline