SB 3938 Illinois Senate · 104th Regular Session

PROPERTY TAX-SITE VALUE

Summary
Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 6, 2026 Last action Mar 24, 2026
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Full legislative history

Actions timeline

Total actions
4
Key actions
0
Committee
1
Feb 6, 2026
Committee
Referred to Assignments
upper
1 primary · 1 co-sponsor

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