IllinoisSB2246104th General Assembly (2025–2026)Senate

PROP TX-ASSESSMENT LIMIT

Sponsored By: Chapin Rose (Republican)

In Committee

Summary

Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. 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

  • Chapin Rose

    Republican • Senate

Cosponsors

  • Andrew S. Chesney

    Republican • Senate

  • Chris Balkema

    Republican • Senate

  • Craig Wilcox

    Republican • Senate

  • Darby A. Hills

    Republican • Senate

  • Donald P. DeWitte

    Republican • Senate

  • Jil Tracy

    Republican • Senate

  • Li Arellano, Jr.

    Republican • Senate

  • Sally J. Turner

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Bill Text

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