IllinoisHB4011104th General Assembly (2025–2026)House

PROP TX-ASSESSMENT LIMIT

Sponsored By: Tom Weber

In Committee

Summary

Amends the Property Tax Code. Provides that, in all counties, the equalized assessed value of 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 the lesser of: (1) 3% of the equalized assessed value of the property for the immediately preceding general assessment year; or 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 limitation does not apply if the increase in assessment is attributable to an addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Tom Weber

    Affiliation unavailable

Cosponsors

  • Kevin Schmidt

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Kevin Schmidt

    3/18/2025House
  2. Referred to Rules Committee

    3/4/2025House
  3. First Reading

    3/4/2025House
  4. Filed with the Clerk by Rep. Tom Weber

    3/3/2025House

Bill Text

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