HB1496 - 104th General Assembly (2025-2026)

PROP TX-LIMIT ASSESSMENTS
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 200/9-162 new  
Synopsis As Introduced
Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
Actions
DateChamberAction
1/21/2025HouseFiled with the Clerk by Rep. Brad Halbrook
1/28/2025HouseFirst Reading
1/28/2025HouseReferred to Rules Committee
2/05/2025HouseAdded Co-Sponsor Rep. Michael J. Coffey, Jr.
2/18/2025HouseAssigned to Revenue & Finance Committee
2/20/2025HouseAdded Co-Sponsor Rep. Adam M. Niemerg
2/20/2025HouseAdded Co-Sponsor Rep. David Friess
2/20/2025HouseAdded Co-Sponsor Rep. Chris Miller
2/25/2025HouseAdded Co-Sponsor Rep. Brandun Schweizer
2/27/2025HouseAdded Co-Sponsor Rep. Travis Weaver
2/27/2025HouseAdded Co-Sponsor Rep. John M. Cabello
2/27/2025HouseAdded Co-Sponsor Rep. Bradley Fritts
2/27/2025HouseAdded Co-Sponsor Rep. Nicole La Ha
2/27/2025HouseAdded Chief Co-Sponsor Rep. Martin McLaughlin
2/27/2025HouseAdded Chief Co-Sponsor Rep. Blaine Wilhour
2/27/2025HouseChief Co-Sponsor Changed to Rep. Blaine Wilhour
3/03/2025HouseAdded Co-Sponsor Rep. Amy L. Grant
3/03/2025HouseTo Tax Policy: Other Taxes Subcommittee
3/21/2025HouseRule 19(a) / Re-referred to Rules Committee
7/07/2025HouseAdded Co-Sponsor Rep. Dennis Tipsword
10/27/2025HouseAdded Co-Sponsor Rep. Kevin Schmidt