PROP TX-ASSESSMENT LIMIT
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 7, 2026
Last action Jan 14, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Jan 14, 2026
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jed Davis
RRepublican
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