Budget & Taxes (Property Tax)

in committee · Illinois · Senate May 29, 2026

SB 1831: PROP TX-ABATEMENT-RESIDENTIAL

Amends the Property Tax Code. Allows for an abatement of taxes if the property is included in a new residential construction development that is located in a county with fewer than 300,000 inhabitants. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides property tax abatement for new residential developments, reducing tax burden per Property Tax Code amendment.90% confidence ✓ HousingSupports HousingTax abatement for new residential construction incentivizes housing development in smaller counties, aligning with housing advancement goals.85% confidence

Sub-Topics Property Tax Tax Incentives Property Development Property Taxes

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in committee · Illinois · Senate Apr 11, 2025

SB 2068: CANNABIS-PAYMENT-PROPERTY TAX

Amends the Cannabis Regulation and Tax Act. Provides that, in addition to other grounds specified in this Act, the Department of Agriculture, upon notification by a county of a cultivation center's failure to pay all or part of any property tax or penalty due to the reporting county, shall refuse the issuance or renewal of a license, or suspend or revoke the license of the cultivation center. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces property tax compliance for cannabis licenses, ensuring tax revenue collection and fiscal responsibility per the bill's licensing restrictions.90% confidence

Sub-Topics Property Tax

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in committee · Illinois · House May 7, 2026

HB 9: SCHOOL CD-PROPERTY TAX RELIEF

Amends the School Code. Provides that the State Board of Education shall establish and administer a program to award property tax relief grants to school districts in this State. Provides that, in exchange for receiving a grant, a school district's maximum aggregate property tax extension for the taxable year that begins on January 1 of the fiscal year for which the grant is awarded may not exceed an adjusted maximum aggregate property tax extension for that taxable year. Creates the Education Property Tax Relief Fund as a special fund in the State treasury for the purpose of awarding grants. Sets forth provisions concerning the Education Property Tax Relief Fund. Amends the State Finance Act to make conforming changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief grants to school districts, reducing their tax burden and aligning with fiscal responsibility in budget management.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Mar 27, 2026

HB 4134: PROP TX-PERSONS W/DISABILITY

Amends the Property Tax Code. Provides that, beginning with taxable year 2026, the amount of the homestead exemption for persons with disabilities shall be the greater of (i) $2,000 or (ii) an amount that, when deducted from the property's value as equalized or assessed by the Department of Revenue, will cause the total aggregate property tax liability for the property for the taxable year for which the exemption is claimed to equal a specified base amount. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption for disabled persons, reducing their tax liability, aligning with tax relief indicators for vulnerable groups.95% confidence ✓ HousingSupports HousingProvides property tax relief for disabled homeowners, reducing housing costs and supporting affordability for a specific group within housing policy.75% confidence

Sub-Topics Property Tax Property Taxes

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in committee · Illinois · Senate Oct 15, 2025

SB 1862: PROP TX-30 YEAR HOMESTEAD

Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for long-term homeowners, reducing tax burden for qualifying residents per Property Tax Code amendment.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Jul 1, 2026

HJRCA 21: CONAMEND-REVENUE

Proposes to amend the Revenue Article of the Illinois Constitution. Provides that an additional income tax shall be imposed on individuals in an amount equal to 3% of the portion of the individual's net income that is greater than $1,000,000 for the taxable year. Provides that, of the revenue collected pursuant to those provisions, 50% shall be used to provide property tax relief and 50% shall be distributed to school districts solely on a per pupil basis. Effective upon being declared adopted.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 3% tax on high earners ($1M+), allocates 50% to property tax relief and 50% to schools per pupil, supporting fiscal responsibility and public services.90% confidence ✓ EducationSupports EducationAllocates 50% of new tax revenue to school districts via per-pupil funding, directly increasing education funding as specified in the bill's summary.95% confidence

Sub-Topics Income Tax Property Tax

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in committee · Illinois · House Mar 27, 2026

HB 2642: PROP TX-AGGREGATE EXTENSION

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that the limiting rate shall be calculated using the highest aggregate extension from any year in which the taxing district was subject to the Property Tax Extension Limitation Law (currently, the last 3 preceding levy years). Provides that an aggregate extension established for a levy year in which the taxing district was authorized to temporarily increase its limiting rate or its extension limitation may not be used.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax extension limit to use highest historical rate, enabling higher property tax collections for districts, advancing fiscal capacity for local government budgets.92% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Nov 4, 2025

HB 1746: PROP TX-HOMESTEAD EXEMPT

Amends the Property Tax Code. Provides that, for taxable years 2026 and thereafter, the term "maximum income limitation" for the low-income senior citizens assessment freeze homestead exemption means the greater of (i) $80,000 or (ii) $80,000 adjusted by certain increases in the consumer price index-u. Provides that the Department of Revenue shall, not later than January 31 of each calendar year, calculate, publish, and transmit to all county clerks and county treasurers the indexed maximum income limitation number. In provisions concerning the general homestead exemption, provides that, for taxable years 2026 and thereafter, the maximum reduction is $10,000 in all counties.

Topics ✓ Budget & TaxesSupports Budget & TaxesAdjusts homestead exemption income limit to inflation, providing ongoing tax relief for low-income seniors by preventing increased property tax burdens.95% confidence

Sub-Topics Property Tax

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