PROP TX-ASSESSMENT LIMIT
Sponsored By: Tom Weber (Republican)
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
Republican • House
Cosponsors
Kevin Schmidt
Republican • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Added Co-Sponsor Rep. Kevin Schmidt
3/18/2025HouseReferred to Rules Committee
3/4/2025HouseFirst Reading
3/4/2025HouseFiled with the Clerk by Rep. Tom Weber
3/3/2025House
Bill Text
Introduced
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