SB3938 - 104th General Assembly (2025-2026)

PROPERTY TAX-SITE VALUE
Last Action
2/06/2026 - Senate: Referred to Assignments
Senate Sponsors
Sen. Chris Balkema
Statutes Amended In Order of Appearance
35 ILCS 200/Art. 31.1 heading new  
35 ILCS 200/31.1-1 new  
35 ILCS 200/31.1-5 new  
35 ILCS 200/31.1-10 new  
Synopsis As Introduced
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.
Actions
DateChamberAction
2/06/2026SenateFiled with Secretary by Sen. Chris Balkema
2/06/2026SenateFirst Reading
2/06/2026SenateReferred to Assignments