IllinoisSB3938104th General Assembly (2025–2026)Senate

PROPERTY TAX-SITE VALUE

Sponsored By: Chris Balkema (Republican)

In Committee

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.

assignments

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Chris Balkema

    Republican • Senate

Cosponsors

  • Neil Anderson

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Neil Anderson

    3/24/2026Senate
  2. Referred to Assignments

    2/6/2026Senate
  3. First Reading

    2/6/2026Senate
  4. Filed with Secretary by Sen. Chris Balkema

    2/6/2026Senate

Bill Text

Related Bills

Back to State Legislation